Partner Communications Is Considering A Possible Transaction In The Fiber Optics Field

Rhea-AI Summary

Partner Communications Company Ltd. (NASDAQ and TASE: PTNR), a prominent Israeli telecommunications provider, is exploring potential offers to divest up to 20% of its rights in its existing and upcoming fiber optic network aimed at private households. These rights would be transferred to a newly formed partnership, where Partner would retain a 80% stake. The company cautions that there is no guarantee this transaction will be finalized or approved.

Positive

• None.

Negative

• Uncertainty over the completion of the proposed transaction.
• Potential regulatory and market challenges affecting transaction execution.

ROSH HA'AYIN, Israel, Nov. 18, 2020 /PRNewswire/ -- Partner Communications Company Ltd. ("Partner" or the "Company") (NASDAQ and TASE: PTNR), a leading Israeli communications operator, announces that, following inquiries received from a number of potential investors, it is considering the possibility to solicit offers from a potential partner or partners to acquire up to 20% of the rights to use the Company's existing and future fiber optic network for services to private households. These rights will be transferred from the Company to a newly-formed partnership, and the Company will then sell up to a 20% stake in this new entity.

It should be emphasized that there is no certainty that such a transaction will be executed and/or will receive the required approvals for its completion.

Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, Section 21E of the US Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Words such as "estimate", "believe", "anticipate", "expect", "intend", "seek", "will", "plan", "could", "may", "project", "goal", "target" and similar expressions often identify forward-looking statements but are not the only way we identify these statements. We have based these forward-looking statements on our current knowledge and our present beliefs and projections regarding possible future events. These forward-looking statements include the Company's expectation regarding the consideration of a potential transaction in which the Company will sell a certain percentage of a legal entity to which the Company will transfer the right of use for 'home connected' in the Company's existing and future independent fiber optic network. These forward-looking statements are subject to risks, uncertainties and assumptions about Partner and its operations, including the Company's ability to complete such potential transaction under the desired market conditions and the current and future regulatory conditions, subject to possible economic, regulatory, legal and other developments. In light of these risks, uncertainties, assumptions and future developments, the forward-looking events discussed in this press release might not occur, and actual results may differ materially from the results anticipated. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 

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 Chief Financial Officer Tel: +972-54-781-4951	Amir Adar Head of Investor Relations and Corporate Projects Tel: +972-54-781-5051 E-mail: investors@partner.co.il

 

View original content:http://www.prnewswire.com/news-releases/partner-communications-is-considering-a-possible-transaction-in-the-fiber-optics-field-301175614.html

SOURCE Partner Communications Company Ltd.

FAQ

What is the purpose of Partner Communications' recent announcement regarding PTNR?

Partner Communications is considering soliciting offers to sell up to 20% of its rights to its fiber optic network.

What percentage of the fiber optic network rights is Partner Communications planning to sell?

The company is planning to sell up to 20% of the rights to use its fiber optic network.

Is there a guarantee that the transaction regarding PTNR will be completed?

No, there is no certainty that the transaction will be executed or receive the necessary approvals.

What risks are associated with Partner Communications' potential transaction?

The potential transaction is subject to regulatory, market, and other uncertainties that may affect its completion.

Where can I find more information about Partner Communications?

More information can be found on their investor relations website at www.partner.co.il/en/Investors-Relations/lobby/