فاس نيوز ميديا جريدة الكترونية جهوية تعنى بشؤون و أخبار جهة فاس مكناس – متجددة على مدار الساعة
The UAE-based “e&” Group has revealed that it is exploring several options regarding its investments in “Maroc Telecom,” Morocco’s largest telecommunications company. This comes after a court ruling obligating the Moroccan company to pay a record fine of 6.368 billion dirhams (equivalent to $645 million) to its competitor “Wana.”
The UAE group owns 53% of Maroc Telecom’s capital, which is the second-largest company by market value on the Casablanca Stock Exchange and is also listed on the Paris Stock Exchange. The Moroccan state owns a 22% stake in the company.
In a statement, the UAE group expressed frustration with repeated regulatory violations and judicial rulings, noting that these decisions have cost the company losses exceeding $1.2 billion over the past few years.
Hatem Dowidar, the group’s CEO, stated that the value of the issued judgment is among the highest fines in the telecommunications sector globally, which may hinder Maroc Telecom’s future investments.
This ruling came from the Commercial Court of Appeal in Casablanca, accusing the company of “anti-competitive practices.” The UAE group confirmed that it will pursue all available legal means to appeal and protect its investments.
Jassem Mohamed Bouataba Al Zaabi, Chairman of the “e&” Group, commented on the situation, saying that regulatory environment challenges negatively affect their future investments in Morocco at a time when global capital is moving towards maximizing the transformative power of the telecommunications and technology sector.
This development raises questions about the future of foreign investments in the Moroccan telecommunications sector and the impact of judicial rulings on the business climate in the country.
