Partner Communications Announces The Publishing Of A Hearing Process Regarding The Potential Reduction Of Interconnect Tariffs

Rhea-AI Summary

Partner Communications Company Ltd. (NASDAQ: PTNR) announces a proposed reduction in interconnection tariffs by the Ministry of Communications. Over three years, each operator will bear its own costs without transfer payments for call minutes. The regulations will also affect international call supervision in Israel. Responses to this hearing are due by October 13, 2021, as the company assesses potential impacts of these changes.

Positive

• Potentially lower operational costs due to elimination of payment transfers for interconnection.
• Opportunity to respond to regulatory changes, allowing for strategic adjustments.

Negative

• Uncertainty regarding the financial impact of the tariff reductions on overall revenues.
• Changes in international call regulations may disrupt existing partnerships or revenue streams.

ROSH HA'AYIN, Israel, Sept. 14, 2021 /PRNewswire/ -- Partner Communications Company Ltd. ("Partner" or the "Company") (NASDAQ: PTNR) (TASE: PTNR), a leading Israeli communications operator, reports, that the Ministry of Communications published a hearing according to which there will be a gradual reduction over a period of three years of interconnection tariffs, after which the relevant provision process will be determined, by virtue of the Minister of Communications' authority and the approval of the Minister of Finance, according to which each operator will bear its own costs and there will no longer be payment transfers for interconnection, with respect to call minutes, both on MRT networks and on fixed-line networks.

 

 

With respect to international calls of an international operator, the supervision over the completion segment in Israel of incoming international calls will be removed, while the formation segment of outgoing calls abroad will be subject to the reduction outline detailed above.

Responses to the hearing may be submitted no later than October 13, 2021. The Company is examining the possible consequences of the implementation of the said regulations amendment and the manner in which it plans to respond to the hearing.

About Partner Communications

Partner Communications Company Ltd. ("Partner") 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 and TASE: PTNR).

For more information about Partner see:

http://www.partner.co.il/en/Investors-Relations/lobby/

Contacts:

Mr. Tamir Amar Deputy CEO & Chief Financial Officer Tel: +972-54-781-4951

Mr. Amir Adar Head of Investor Relations & Corporate Projects Tel: +972-54-781-5051 Email: investors@partner.co.il

View original content:https://www.prnewswire.com/news-releases/partner-communications-announces-the-publishing-of-a-hearing-process-regarding-the-potential-reduction-of-interconnect-tariffs-301376286.html

SOURCE Partner Communications Company Ltd.

FAQ

What new regulations are proposed for Partner Communications (PTNR)?

The Ministry of Communications proposes a gradual reduction in interconnection tariffs over three years, where each operator will bear its own costs.

When do responses to the interconnection tariff hearing need to be submitted?

Responses must be submitted by October 13, 2021.

How will the proposed changes affect international calls for Partner (PTNR)?

The supervision over incoming international calls will be removed, while outgoing call segments face the new tariff structure.

What is the duration of the interconnection tariff reduction plan?

The interconnection tariffs will be reduced gradually over a period of three years.