A Moroccan appeals court upheld on Wednesday 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.
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, Ivory Coast, Mali, Mauritania, Niger and Togo.
Inwi is not a listed company and is controlled by private investment fund Al Mada of the Moroccan royal family.