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A Moroccan commercial court on Monday ordered market leader Maroc Telecom to pay compensation of USD 636 million to its competitor Wana Corporate, better known by its brand name Inwi, for unfair competition practices. The verdict is the second against Maroc Telecom after telecoms regulator ANRT fined the company 3.3 billion dirhams for failing to respect fair competition provisions.
A Moroccan commercial court on Monday ordered market leader Maroc Telecom to pay compensation of USD 636 million to its competitor Wana Corporate, better known by its brand name Inwi, for unfair competition practices. The verdict is the second against Maroc Telecom after telecoms regulator ANRT fined the company 3.3 billion dirhams for failing to respect fair competition provisions.
The fine exceeds Maroc Telecom’s annual 2022 profit of 5.82 billion dirhams. Shares of Maroc Telecom, the second-largest company on the Casablanca stock exchange by market capitalisation, fell 9.99% following the first instance verdict. 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.
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Maroc Telecom, which is also listed on Euronext Paris, is 53% controlled by the UAE’s Etisalat, with the Moroccan state owning 22%. Besides Morocco, Maroc Telecom operates subsidiaries in Benin, Burkina Faso, Ivory Coast, Gabon, Mali, Mauritania, Niger, Chad, Togo and the Central African Republic. Inwi is not a listed company and is majority-controlled by the royal family’s holding company Al Mada.
