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General

Partner to buy 012 Smile for ILS 1.5 bln

Thursday 14 October 2010 | 07:36 CET | News
Ampal-American Israel Corporation (Ampal) announced that its subsidiary Merhav-Ampal Energy has agreed to sell 012 Smile Telecom to Partner Communications for about ILS 692 million (USD 191 million). As part of the transaction, Partner has also agreed to assume about ILS 800 million of long-term debt, which brings the total transaction value to ILS 1.492 billion. The takeover gives a boost to Partner's recent move into the fixed-line market. 012 Smile is an Israeli operator providing local and international voice, internet and VoIP services; the company is estimated to provide Partner with a

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Categories: General
Companies: Partner Communications / Smile Telecom
Countries: Israel
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