Partner bids NIS 187m to buy Xfone

Partner is committed to retaining 70% of Xfone’s employees for at least one year.


Israeli telecom company Partner Communications Co. Ltd. (Nasdaq: PTNR; TASE:PTNR) has announced a bid of NIS 187 million to buy telecom operator Xfone, subject to due diligence. Partner is making the bid even though claims it has not received all the required information about the company, and there is little chance that the regulators will approve the acquisition.

Loading...

Partner is committed to retaining 70% of Xfone’s employees for at least one year and injecting NIS 3 million into the company for a four month intermediary period.

Loading...

Market sources believe that Partner’s bid is designed to be a counterweight to the bid by Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) to buy Xfone, which also is highly unlikely to receive the regulators’ permission to make the acquisition.

Widely Mobile, owned by Shimon Reichman is also set to bid for Xfone and wants to turn it into a mobile virtual network operator (MVNO) on the Pelephone network.

Loading...

Published by Globes, Israel business news – en.globes.co.il – on August 26, 2021

Loading...

Copyright of Globes Publisher Itonut (1983) Ltd. 2021



Loading...

Partner

Loading...

Loading...

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

Loading...

For all the latest Education News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Loading...
Denial of responsibility! TechiLive.in is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.