• Most Popular
  • Most Shared

Hutchison seeks bids for Partner this week -paper

Mon Jul 6, 2009 2:57am EDT

Stocks

   

TEL AVIV, July 6 (Reuters) - Hutchison Whampoa (0013.HK) of Hong Kong has asked potential buyers to submit offers for its controlling stake in Partner Communications (PTNR.O) by Wednesday, the Maariv newspaper said on Monday.

Stocks  |  Mergers & Acquisitions

The stake is worth an estimated $1.2 billion to $1.5 billion, Maariv said.

Partner (PTNR.TA), Israel's second-largest mobile phone operator, is 51 percent owned by Hutchison Telecommunications International (2332.HK), which is controlled by Hutchison Whampoa.

Partner, which has a market cap of 10.3 billion shekels ($2.7 billion), was not immediately available to comment.

According to Maariv, potential buyers include the Israeli communications group Eurocom, a shareholder in the YES satellite television operator, as well as the FIMI mezzanine and buyout fund.

($1=3.88 shekels)

(Reporting by Tova Cohen; Editing by Erica Billingham)



More from Reuters

Photo

Time Warner Cable, Fox at impasse; blackout looms

NEW YORK (Reuters) - About 13 million Time Warner Cable Inc subscribers will lose Fox programing at midnight unless the cable service provider reaches a last-minute deal to pay News Corp fees to broadcast the network's shows.

 A picture of an arrow in this file photo. REUTERS/File

The coming Great Inflation

Real or imagined, Americans have plenty of things to worry about. Should inflation be one of them?  Full Article 

People walk past a branch of Bank of America in New York's financial district April 28, 2009. REUTERS/Brendan McDermid

Move your money

Boycotting "too big to fail" banks is a great idea -- so long as investors remember that banks aren't the only ones responsible for the crisis.  Full Article