Moroccan appeals court upholds fine imposed on Maroc Telecom in antitrust case

RABAT (Reuters) – A Moroccan appeals court on Wednesday upheld a ruling ordering Maroc Telecom to pay 6.3 billion dirhams ($630 million) in damages to its competitor Wana Corporate, better known by its Inwi brand, for unfair competition practices.

Inwi, the country’s third-largest telecom operator, opened the case in 2021, accusing Maroc Telecom of abusing its dominant market position.

The fine exceeds Maroc Telecom’s 2023 profit of 6.1 billion dirhams.

In 2020, the Moroccan telecommunications regulator (ANRT) fined Maroc Telecom 3.3 billion dirhams for abusing its dominant market position by hindering competitors from accessing unbundled services on its network and in the fixed market.

Maroc Telecom, a company listed on the Casablanca Stock Exchange and Euronext Paris, is 53% controlled by Etisalat of the United Arab Emirates, with the Moroccan state having a 22% stake.

In addition to Morocco, the company has offices in Benin, Burkina Faso, the Central African Republic, Chad, Gabon, Côte d’Ivoire, Mali, Mauritania, Niger and Togo.

Inwi is not a publicly listed company and is controlled by the private investment fund Al Mada, owned by the Moroccan royal family.

(Reporting by Ahmed Eljechtimi; Editing by Josie Kao)