Saudi telecom regulator cuts call connection fees by 40 pct

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* Termination fees to fall by 40 pct to 0.15 riyals * High fees have benefitted larger operators * Shares in Zain Saudi surge 7.6 pct * STC and Mobily's shares drop 4.4 and 3.3 pct respectively (Recasts with quotes from CEO of Zain Saudi) By Matt Smith DUBAI, Feb 23 (Reuters) - The chief executive of Zain Saudi , Saudi Arabia's smallest mobile operator, on Monday called for further reductions in call termination fees after the sector regulator slashed rates by 40 percent. Termination fees are those charged when a call originating on one network terminates on a**ther network, with the caller network charged by the operator of the network on which the call is received. High termination fees benefit the larger network operators, which have a bigger market share and fewer calls going "off-net" to other providers. The Communications and Information Tech**logy Commission has cut these fees to 0.15 riyals from 0.25 riyals, it said in a statement on its website.

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