UAE-based operator group e& said it will continue to fight against a half a billion dollar fine for anti-competitive practices in Morrocco.
The operator group said in a statement that it “expressed disappointment” upon learning the decision from the Court of Appeals. But will pursue all legal avenues to appeal against the decision and protect its local unit Maroc Telecom, which e& has a 53% stake in.
Maroc Telecom now has to pay MAD6.4 billion (US$645 million) to rival Wana Corporate.
Jassem Mohamed Bu Ataba Alzaabi, e& Group Chairman, warned a “challenging regulatory environment negatively affects the future outlook of our investments in Morocco."
Hatem Dowidar, e& Group CEO, bemoaned the “repeated setbacks caused by regulatory penalties” in Morocco, claiming Maroc Telecom’s ability to compete was being limited. Maroc Telecom paid over MAD12 billion (US$1.2 billion) in penalties in the last few years.
