A Moroccan appeals court docket on Wednesday upheld a call requiring Maroc Telecom to pay 6.3 billion dirhams ($630 million) in compensation to its competitor, Wana, recognized by the identify Inwi model, on account of unfair monopolistic practices.
Inwi, the third largest telecommunications operator within the Kingdom, filed the case in 2021, accusing Maroc Telecom of abusing its dominant place out there.
The effective exceeds Maroc Telecom’s 2023 earnings of 6.1 billion dirhams.
In 2020, Morocco’s telecommunications regulatory authority fined Maroc Telecom 3.3 billion dirhams for abusing its dominant market place by blocking rivals’ entry to the fixed-line phone market .
The Emirati telecommunications firm controls 53 % of Morocco Telecom, which is listed on the Casablanca Inventory Alternate and Euronext Paris, whereas the Moroccan state owns 22 %.
Along with Morocco, the corporate has branches in Benin, Burkina Faso, Central African Republic, Chad, Gabon, Ivory Coast, Mali, Mauritania, Niger and Togo.
Inwi will not be a listed firm and is managed by the personal funding fund “Al Mada” linked to the Moroccan royal household.
2024-07-03 20:28:46
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