Hutchison seeks bids for Partner this week -paper

Mon Jul 6, 2009 2:57am EDT
 
[-] Text [+]

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.

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 News

HK shares recover partly; China stocks lag
Thursday, 13 Aug 2009 05:12am EDT 
Hong Kong shares rise, China stocks rebound from low
Thursday, 13 Aug 2009 12:21am EDT 
PRESS DIGEST - Hong Kong - Aug 13
Wednesday, 12 Aug 2009 10:04pm EDT 
Hutchison Telecom sells Partner stake for $1.38 billion
Wednesday, 12 Aug 2009 03:02pm EDT 

Featured Broker sponsored link