Partner Communications Updates Regarding Rejection Of The Bids Received For A Transaction In The Fiber Optics Field

Rhea-AI Summary

Partner Communications Company Ltd. (NASDAQ: PTNR) announced on April 13, 2021, that it has rejected bids from various investors to acquire 20% of its existing and future fiber optic network rights for private household services. This decision was made following prior communication on February 21, 2021. Partner continues to operate as a leading provider in telecommunications, offering cellular, fixed-line telephony, internet, and television services in Israel.

Positive

• Partner retains full control over its fiber optic network, which may contribute to future growth and expansion opportunities.

Negative

• Rejecting investor bids may indicate potential limitations in partnership opportunities or funding for network upgrades.

ROSH HA'AYIN, Israel, April 13, 2021 /PRNewswire/ -- Partner Communications Company Ltd. ("Partner" or the "Company") (NASDAQ: PTNR) (TASE: PTNR), a leading Israeli communications operator, announces that, following the Company's report dated February 21, 2021, the Company decided to reject the bids received from various investors to acquire 20% of the rights to use the Company's existing and future fiber optic network for services to private households.

 

 

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 & VP Fiber-Optics 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

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SOURCE Partner Communications Company Ltd.

FAQ

What did Partner Communications announce on April 13, 2021?

Partner Communications announced it rejected bids from investors for 20% of its fiber optic network rights.

What is the significance of Partner Communications rejecting investor bids?

Rejecting the bids means Partner retains control over its fiber optic network, but may limit future funding opportunities.

How does the rejection of bids affect PTNR shareholders?

The rejection of bids could impact shareholder sentiment regarding potential partnerships and future financing.

When did Partner Communications report the rejection of bids?

The rejection of bids was reported on April 13, 2021, following an earlier communication on February 21, 2021.