PARTNER COMMUNICATIONS ANNOUNCES RECEIVING A LETTER FROM THE MINISTRY OF COMMUNICATIONS STATING IT IS SATISFIED THAT THE AGREEMENT WITH BEZEQ, FOR THE PURCHASE OF AN INDEFEASIBLE RIGHT OF USE OF FIBER-OPTIC INFRASTRUCTURE LINES, HAS NO RISK OF CREATING SIGNIFICANT DAMAGE TO THE COMPETITION

Rhea-AI Summary

On January 17, 2023, Partner Communications Company Ltd. (NASDAQ: PTNR) announced that it received a favorable response from the Ministry of Communications regarding its agreement with Bezeq for the purchase of an indefeasible and irrevocable right of use (IRU) of fiber optic infrastructure lines. The Ministry confirmed it is satisfied the agreement poses no significant harm to competition. Additionally, Bezeq plans to reduce the price of its single mode fiber optic lines to NIS 72 (excluding VAT). This development could positively influence Partner's operational costs and competitive positioning in the telecommunications market.

Positive

• Ministry satisfied that the agreement with Bezeq does not harm competition.
• Bezeq to reduce the price of fiber optic lines to NIS 72, potentially lowering costs for Partner.

Negative

• None.

ROSH HA'AYIN, Israel, Jan. 17, 2023 /PRNewswire/ -- Partner Communications Company Ltd. ("Partner" or "the Company") (NASDAQ: PTNR) (TASE: PTNR), a leading Israeli communications operator, announced, further to the Company's immediate reports on December 22, 2022 and on December 28, 2022, that on January 16, 2023, a letter was received by the Company from the Ministry of Communications, concerning the agreement which was executed between the Company and Bezeq - the Israel Telecommunication Corp. Ltd. ("Bezeq" and "the Agreement"), regarding the purchase of an indefeasible and irrevocable right of use (IRU) of non-specific fiber optic infrastructure lines in buildings connected to Bezeq's fiber-optic infrastructure ("the Letter").

The Letter states that, after discussions with Bezeq, Bezeq informed the Ministry of Communications that it intends to reduce the price of single mode fiber optic lines in the BSA fiber service to NIS 72 (without VAT). Following that, the Ministry of Communications is satisfied that the Agreement has no risk of creating significant damage to the competition and therefore has no intention of exercising any of its powers in connection with the Agreement.

About Partner Communications

Partner Communications Company Ltd. is a leading Israeli provider of telecommunications services (cellular, fixed-line telephony, internet and television services). Partner's ADSs are quoted on the NASDAQ Global Select Market™ and its shares are traded on the Tel Aviv Stock Exchange (NASDAQ: PTNR) (TASE: PTNR).

For more information about Partner see: http://www.partner.co.il/en/Investors-Relations/lobby

Contact:

Miri Takutiel Chief Financial Officer Tel: +972 (50) 677-7116

Amir Adar Head of Investor Relations & Corporate Projects Tel: +972 (54) 781-5051 E-mail: investors@partner.co.il

Logo: https://mma.prnewswire.com/media/1334689/Partner_Communications_Logo.jpg

 

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SOURCE Partner Communications Company Ltd.

FAQ

What is the latest news from Partner Communications (PTNR) as of January 2023?

Partner Communications announced, on January 17, 2023, that the Ministry of Communications is satisfied with their agreement with Bezeq, which will reduce fiber optic line prices to NIS 72.

How will the agreement with Bezeq affect Partner Communications (PTNR)?

The agreement with Bezeq is expected to lower operational costs for Partner Communications due to the reduced price of fiber optic lines.

What has the Ministry of Communications concluded about Partner Communications' agreement with Bezeq?

The Ministry of Communications concluded that the agreement does not pose a significant risk to competition.