Key Developments: Partner Communications Company Ltd (PTNR.O)
6.48USD
17 May 2013
$0.01 (+0.15%)
$6.47
$6.52
$6.52
$6.16
71,476
62,094
$7.24
$3.00
Latest Key Developments (Source: Significant Developments)
Saban Capital Group Acquires Controlling Interest In Partner Communications Company Ltd From Scailex Corp., Ltd., .
S.B. Israel Telecom Ltd., an affiliate of Saban Capital Group, Inc., announced it has closed its purchase of the controlling interest in Partner Communications Company Ltd from Scailex Corp., Ltd., . Partner, a provider of communications services in Israel, including cellular, Internet and fixed telephony, operates the orangeTM and 012 Smile brands in Israel. The transaction includes the assumption of debt owed by Scailex to Advent Investments Pte Ltd., a subsidiary of Hutchison Whampoa Limited (HKEX: 13).Saban Capital Group received legal advice from Zellermayer, Pelossof, Rosovsky, Tsafrir, Toledano & Co. Advocates and Skadden, Arps, Slate, Meagher & Flom LLP, financial advice from Deutsche Bank Israel and transaction advisory services from KPMG Somekh Chaikin. Full Article
Partner Communications Company Ltd Announces the Board of Directors’ Resolution to Cancel Dividend Policy for 2012
Partner Communications Company Ltd announced that Further to the Board of Directors' previous resolutions regarding a buy-back plan of notes, an early repayment of bank loans and the reduction of unused credit facilities, the Board of Directors resolved on September 19, 2012 to cancel the existing dividend policy for 2012, and to assess dividend distributions (and their scope) from time to time, by reference to, inter alia, the Company's cash flow, profitability, debt level, debt coverage ratios and the business environment in general. Full Article
Partner Communications Company Ltd Announces Lawsuit And Motion For Recognition Of Lawsuit As Class Action
Partner Communications Company Ltd announced that it was served with a lawsuit and a motion for the recognition of this lawsuit as a class action, filed against Partner on September 3, 2012 in the Tel-Aviv District Court. The claim alleges that Partner does not comply with the provisions of its license by not including a detailed list of calls in the subscribers' monthly bills. If the lawsuit is recognized as a class action the total amount claimed against Partner is estimated by the plaintiffs to be approximately NIS84 million. Partner is reviewing and assessing the lawsuit and is unable, at this preliminary stage, to evaluate, with any degree of certainty, the probability of success of the lawsuit or the range of potential exposure. Full Article
Partner Communications Company Ltd Announces Receiving Lawsuit And Motion For Recognition Of Lawsuit As Class Action
Partner Communications Company Ltd announced that it was served with a lawsuit and a motion for the recognition of this lawsuit as a class action, filed against Partner and two other cellular operators on August 8, 2012 in the Tel aviv District Court. The claim alleges that the Defendants do not comply with the provisions of the Israeli Consumer Protection Regulations by not returning to their customers the replaced parts when their handsets are repaired. If the lawsuit is recognized as a class action the total amount claimed against all the Defendants together, is estimated by the plaintiffs to be approximately NIS120 million. Partner is reviewing and assessing the lawsuit and is unable, at this preliminary stage, to evaluate, with any degree of certainty, the probability of success of the lawsuit or the range of potential exposure, if any. Full Article
Partner Communications Company Ltd Announces Distribution Of Cash Dividend
Partner Communications Company Ltd announced that the Board of Directors approved the distribution of a cash dividend (paid in NIS) for the first half of 2012 of NIS1.03 (USD0.26) per share or ADS (in a total of approximately NIS160 million or USD41 million) to shareholders and ADS holders of record on August 29, 2012. The dividend is expected to be paid on September 11, 2012. Full Article
Partner Communications Company Ltd Receives Lawsuit And Motion For Recognition Of Lawsuit As Class Action Against Partner
Partner Communications Company Ltd announced that it was served with a lawsuit and a motion for the recognition of this lawsuit as a class action, filed against Partner on June 19, 2012 in the Tel-Aviv District Court. The claim alleges that Partner unlawfully charges its subscribers for certain calls in which a call-filtering system has been activated by the subscriber being called. If the lawsuit is recognized as a class action the total amount claimed against Partner is estimated by the plaintiff to be approximately NIS72 million. Full Article
Hutchison Whampoa Limited In Talks To Buy Back Control Of Scailex Corporation Ltd From Suny Electronic Inc Ltd; To Regain Controlling Stake In Partner Communications Company Ltd - Reuters
Reuters reported that Hutchison Whampoa Limited is in advanced talks to acquire control of Scailex Corporation Ltd the parent company of Israeli mobile phone operator Partner Communications Company Ltd. Hutchison sold a controlling stake in Partner, Israel's mobile phone operator, to Scailex for $1.38 billion, or $17.50 a share, in 2009. The purchase price included $1.08 billion in cash and a secured debt instrument of $300 million. Scailex, a subsidiary of Suny Electronic Inc Ltd is the sole importer of Samsung mobile handsets in Israel. Suny also announced that it would acquire Scailex's import activities for Samsung phones in parallel to Hutchinson buying control of Scailex. It did not disclose a value for the deal or any other financial details. Scailex holds 44.54% of Partner's shares, worth ISL1.2 billion ($307 million), while Suny owns 1.4% Scailex and Suny are controlled by Israeli businessman Ilan Ben-Dov. According to the Maariv newspaper, Hutchison would acquire 60% of Scailex for ISL1.5 billion, ISL400 million in cash and forgiveness of the $300 million loan extended to Scailex when it bought Partner. Scailex also owes ISL1.8 billion to bondholders, who would have to approve the deal, Maariv said. As of the date of this announcement, no binding agreement has been signed and there is no certainty that such an agreement will be signed, Suny said in a statement to the Tel Aviv Stock Exchange. Full Article
Partner Communications Company Ltd. Announces Appointment Of New Chief Financial Officer
Partner Communications Company Ltd. announced Mr. Emanuel Avner's departure as Partner's CFO. Mr. Avner will be replaced on August 15, 2011 by Mr. Ziv Leitman following a proper transition process. Full Article
Partner Communications Company Ltd. Announces Receiving A Lawsuit And A Motion For The Recognition Of This Lawsuit As A Class Action
Partner Communications Company Ltd. announced that it was served with a lawsuit and a motion for the recognition of this lawsuit as a class action, filed against Partner the other cellular operators on June 6, 2011 in the Central District Court. The claim alleges that the defendants sell or supply accessories that are intended for carrying cellular handsets on the body, in a manner that contradicts the instructions and warnings of the cellular handset manufacturers and the recommendations of the Ministry of Health, all this without disclosing the risks entailed in the use of these accessories when they are sold or marketed. If the lawsuit is recognized as a class action, the total amount claimed against Partner is estimated by the plaintiff to be approximately NIS1,010 million Partner is reviewing and assessing the lawsuit and is unable, at this preliminary stage, to evaluate, with any degree of certainty, the probability of success of the lawsuit or the range of potential exposure, if any. Full Article
UPDATE 1-Partner Comms says competition may hurt firm in 2013
JERUSALEM, Feb 27 - Partner Communications , Israel's second-largest mobile phone operator, reported weaker than expected quarterly profit and said it could have weak earnings throughout 2013 due to fierce competition that has slashed calling rates.
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