{"id":93748,"date":"2024-07-11T00:00:00","date_gmt":"2024-07-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/e-group-disappointed-in-maroc-telecom-court-ruling-mulls-next-steps\/"},"modified":"2024-07-11T00:00:00","modified_gmt":"2024-07-11T00:00:00","slug":"e-group-disappointed-in-maroc-telecom-court-ruling-mulls-next-steps","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/07\/11\/e-group-disappointed-in-maroc-telecom-court-ruling-mulls-next-steps\/","title":{"rendered":"e& Group \u201cdisappointed\u201d in Maroc Telecom court ruling, mulls next steps"},"content":{"rendered":"

Telecom giant e& Group expressed its \u201cdisappointment\u201d in the Casablanca Court <\/strong>of Appeal's <\/strong>rejection of an appeal<\/a><\/strong> by its subsidiary<\/strong> Maroc Telecom in an antitrust case<\/strong>, it said in a statement<\/a> yesterday. The telecoms giant had already confirmed it would challenge the court decision, which will see the Moroccan subsidiary pay some AED 2.3 bn to competitor Inwi over \u201calleged anti-competitive practices.\u201d e& holds majority stakes in Maroc Telecom at 53% shares, while the Moroccan government holds a 22% stake.<\/p>\n

Challenging regulatory environment to blame: <\/strong>\u201cIt is unfortunate that while global capital is looking to leverage the transformative power of technology to enhance digital infrastructure, smart government services, and digital solutions for people, a challenging regulatory environment negatively affects the future outlook of our investments in Morocco,\u201d Chairman Jassem Mohamed Bu Ataba Alzaabi said. <\/p>\n

e& does not expect 2Q results to be impacted by the court decision<\/strong> due to \u201cadequate coverage of international regulatory risks,\u201d it said in the statement. <\/p>\n

Could e& divest from Morocco? <\/strong>The statement quotes CEO Hatem Dowidar as saying all options are on the table for its investments in Maroc Telecom, citing repeated setbacks including regulatory penalties and legal judgments that hinder its ability to compete in the market. The Moroccan unit has already paid some USD 1.2 bn in penalties over the past few years, which e& says is among the highest penalties paid in the telecoms sector. <\/p>\n","protected":false},"excerpt":{"rendered":"

e& holds majority stakes in Maroc Telecom at 53% shares, while the Moroccan government holds a 22% stake<\/p>\n","protected":false},"author":1,"featured_media":93749,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1625],"tags":[833,84,7,25,438],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dispute-watch","tag-dispute-watch","tag-e","tag-enterpriseam-uae","tag-investment-watch","tag-telecoms","wpautop","entry"],"acf":{"mongo_id":"0d9e3129-67e2-4015-93de-4f6c4abc6a89","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/1978.jpg","photo_position":"above","homepage_title":"","full_issue_title":"e& Group \u201cdisappointed\u201d in Maroc Telecom court ruling, mulls next steps","related_issue":[93738],"teaser":"e& holds majority stakes in Maroc Telecom at 53% shares, while the Moroccan government holds a 22% stake","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.73036fc9-7256-422b-94f1-dafb67b00a3f.mp3"},"yoast_head":"\ne& Group \u201cdisappointed\u201d in Maroc Telecom court ruling, mulls next steps - 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