Moroccan telecom ordered to pay competitor $630m

An appeals court in Morocco has ordered the country's leading telecommunications company to pay a rival firm $630 million over unfair competition practices. A Moroccan appeals court on Wednesday upheld a ruling ordering Maroc Telecom to pay a compensation of 6.3 billion dirhams ($630 million) to its competitor Wana Corporate, better known by its brand name Inwi, for unfair competition practices. Inwi, the third-largest telecom operator in the country, brought the case in 2021, accusing Maroc Telecom of abusing its dominant position in the market. The fine exceeds Maroc Telecom's 2023 profit of 6.1 billion dirhams. In 2020, Morocco's telecom regulator (ANRT) fined Maroc Telecom 3.3 billion dirhams for abusing its dominant position in the market by hindering competitors' access to unbundling on its network and the fixed market. Partially owned by state Maroc Telecom, which is listed on Casablanca stock exchange and on Euronext Paris, is 53% controlled by the UAE's Etisalat while the Moroccan state holds a 22% stake. Besides Morocco, it operates subsidiaries in Benin, Burkina Faso, the Central African Republic, Chad, Gabon, Côte d'Ivoire, Mali, Mauritania, Niger and Togo. Inwi is not a listed company and is controlled by private investment fund Al Mada of the Moro ccan royal family. ➤ Click here to follow our WhatsApp channel for more stories.