Morocco’s competition regulator has cleared a major telecom investment involving Orange SA and APG Asset Management, saying the Nexera deal will not affect Moroccan consumers or market competition.
The decision was announced after a meeting of the Morocco Competition Council in Rabat on 20 April, chaired by Ahmed Rahhou. The council examined the joint acquisition of Nexera Holdings to determine whether the transaction required formal notification under Moroccan competition law. It concluded the deal falls outside the mandatory notification rules.
Nexera is a wholesale fibre-to-the-home operator in Poland. The partnership aims to expand high-speed broadband in areas that still lack fast internet access. Orange brings telecom expertise, while APG provides long-term investment capital from pension funds.
The deal reflects a wider shift in the telecom sector. Many operators are moving towards “asset-light” models by sharing ownership of network infrastructure. This helps telecom companies reduce debt and spread the high costs of building fibre networks. At the same time, pension funds are investing more in infrastructure because it offers stable, predictable returns.
Even when assets are abroad, regulators review global deals involving companies active in Morocco. Orange has a strong presence in the country through Orange Maroc.
Authorities must ensure international partnerships do not change competition, pricing or service quality in the local market. The council confirmed the Polish investment will not directly affect Moroccan telecom users.
The decision clears the way for Orange and APG to move ahead with their fibre expansion plans in Europe.
