Morocco: National Telecommunications Regulatory Agency authorises creation of two joint ventures by Itissalat Al-Maghrib and Wana Corporate

On 18 June 2025, the National Telecommunications Regulatory Agency (ANRT) adopted Decision ANRT/DG/No.08/2025 authorising the creation of two joint ventures by Itissalat Al-Maghrib (IAM) and Wana Corporate (WANA) following the notification of an economic concentration received on 20 May 2025 under Law No. 104-12 on freedom of pricing and competition and Law No. 24-96 on post and telecommunications. ANRT authorised the establishment of a FiberCo, capitalised at MAD 3 billion, to deploy passive fibre-to-the-home (FTTH) infrastructures, and a TowerCo, capitalised at MAD 1.4 billion, to deploy passive mobile telephone infrastructures, each constituted as independent economic entities with functional separation, data protection safeguards, and non-discrimination obligations. The ANRT examined the operation under the national regulatory framework, including Article 22Bis of Law No. 24-96 and Title IV of Law No. 104-12, assessed the potential horizontal and vertical effects on wholesale and retail telecommunications markets, considered stakeholder observations, and concluded that the concentration complied with competition rules and was compatible with the Moroccan market, subject to transparency, objectivity, and equal-access commitments.