Saudi Arabia: Opened consultation on Amended Communications and Information Technology System draft including merger control regulation

On 8 July 2024, the Communications and Technology Commission of Saudi Arabia (CITC) opened a public consultation on the Amended Communications and Information Technology System draft including merger control regulation, until 7 August 2024. The Amendment provides that communications and information technology service providers must obtain council approval before merging with another service provider, either domestically or internationally, and must notify the Authority within five business days of any preliminary agreement. The Amendment also provides that service providers must get council approval before purchasing 5% or more of the shares or stakes in a licensed service provider or reaching a controlling market share in relevant communications sectors.