{"id":531548,"date":"2021-08-26T05:37:24","date_gmt":"2021-08-26T09:37:24","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/partner-communications-announces-offer-to-purchase-the-operation-of-marathon-018-xfone\/"},"modified":"2021-08-26T05:37:24","modified_gmt":"2021-08-26T09:37:24","slug":"partner-communications-announces-offer-to-purchase-the-operation-of-marathon-018-xfone","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/partner-communications-announces-offer-to-purchase-the-operation-of-marathon-018-xfone\/","title":{"rendered":"Partner Communications Announces Offer To Purchase The Operation Of Marathon 018 Xfone"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n ROSH HA’AYIN, Israel<\/span>, Aug. 26, 2021<\/span> \/PRNewswire\/ — Partner Communications Company Ltd. (“Partner” or the “Company”) <\/i><\/b>(NASDAQ: PTNR)\u00a0and <\/i><\/b>(TASE: PTNR),\u00a0a leading Israeli communications operator,<\/i>\u00a0<\/b>announces\u00a0<\/i>that it filed a purchase offer to the arrangement manager of Marathon (018) Xfone Ltd. (“Marathon<\/b>“), to purchase Marathon<\/i>‘s business activity<\/i>. The main principles of the Offer are below (the “<\/i>Offer<\/b><\/i>“): <\/i><\/p>\n

\n \"Partner\n <\/div>\n

\n 1.\u00a0 <\/i>
\n Partner will purchase Marathon’s business activity, including liabilities to its customers and excluding rights or debts originating from the network sharing agreement between Marathon and Cellcom Israel Ltd (the “<\/i>
\n
\n Purchase<\/b>
\n <\/i>
\n “), provided that the Purchase is free of any debt, liability, current or future claim arising before the purchase date or arising from the purchase itself, as is customary in such proceedings. <\/i>\n <\/p>\n

\n 2.\u00a0 <\/i>
\n For the Purchase, Partner will pay to the arrangement manager a sum of ILS 187 million (“<\/i>
\n
\n Purchase<\/b>
\n <\/i>
\n \u00a0<\/i>
\n
\n Price<\/b>
\n <\/i>
\n “), subject to the purchase price adjustment mechanism mentioned in the Offer, which stipulates that the Purchase Price will be reduced in certain cases where there is a significant gap between Marathon’s presentations and the Purchase that will actually be purchased by Partner. Partner will set a portion of the total Purchase Price, subject to approval issued by the court, as temporary payments, paid in monthly payments of NIS 3 million<\/span>, for a maximum period of 4 months.\u00a0 <\/i>\n <\/p>\n

\n 3.\u00a0 <\/i>
\n Partner<\/i>\u00a0will offer at least 70% of Marathon’s employees continued employment, under Marathon’s obligations and terms, for a period of at least one year, beginning at the date of the purchase. \u00a0<\/i><\/p>\n

\n 4.\u00a0 <\/i>
\n The Offer is subject to a limited due diligence procedure requiring up to 5 working days, starting from the day the arrangement manager will provide the needed documents to Partner.<\/i>\n <\/p>\n

\n 5.\u00a0 <\/i>
\n The Offer will expire on September 9, 2021<\/span>.<\/i>\n <\/p>\n

\n 6.\u00a0 <\/i>
\n The Offer is conditioned on the receipt of all required regulatory approvals, including the approvals of the insolvency court and the creditors’ meetings, the Israeli Ministry of Communications and the Competition Commissioner.<\/i>\n <\/p>\n

\n
\n Forward-Looking Statements<\/u>
\n <\/i>\n <\/p>\n

\n This announcement made by Partner includes forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, Section 21E of the US Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Words such as “estimate”, “believe”, “anticipate”, “expect”, “intend”, “seek”, “will”, “plan”, “could”, “may”, “project”, “goal”, “target” and similar expressions often identify forward-looking statements but are not the only way we identify these statements. <\/i>
\n We have based these forward-looking statements on our current knowledge and our present beliefs and projections regarding possible future events. <\/i>
\n These forward-looking statements include<\/i>
\n \u00a0the Company’s expectation regarding the consideration of a potential transaction in which the Company will purchase Marathon’s operation. These forward-looking statements are subject to uncertainties that are not under the Company ability to predict including the approval of the <\/i>
\n creditor’s assembly<\/i>
\n , the court and various regulators<\/i>
\n . In light of these uncertainties, assumptions and future developments, the forward-looking events discussed in this press release might not occur, and actual results may differ materially from the results anticipated. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.<\/i>
\n \u00a0<\/i>\n <\/p>\n

\n About Partner Communications<\/u>\n <\/p>\n

Partner Communications Company Ltd. (“Partner”) is a leading Israeli provider of telecommunications services (cellular, fixed-line telephony, internet and television services). Partner’s ADSs are quoted on the NASDAQ Global Select Market\u2122 and its shares are traded on the Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR).<\/span><\/p>\n

For more information about Partner see:
http:\/\/www.partner.co.il\/en\/Investors-Relations\/lobby\/<\/a><\/p>\n

Contacts:<\/p>\n

\n\n\n
\n

\n
\n M<\/b>
\n r. Tamir Amar<\/b>
\n <\/span>\n <\/p>\n

\n Deputy CEO and Chief Financial Officer<\/span>\n <\/p>\n

\n Tel: +972-54-781-4951<\/span>\n <\/p>\n

\u00a0<\/p>\n<\/td>\n

\n

\n
\n Mr. Amir Adar<\/b>
\n <\/span>\n <\/p>\n

\n Head of Investor Relations and Corporate Projects <\/span>\n <\/p>\n

\n Tel: +972-54-781-5051<\/span>\n <\/p>\n

\n E-mail: investors@partner.co.il<\/a><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n \"Cision\" View original content:https:\/\/www.prnewswire.com\/news-releases\/partner-communications-announces-offer-to-purchase-the-operation-of-marathon-018-xfone-301363444.html<\/a><\/p>\n

SOURCE Partner Communications<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire ROSH HA’AYIN, Israel, Aug. 26, 2021 \/PRNewswire\/ — Partner Communications Company Ltd. (“Partner” or the “Company”) (NASDAQ: PTNR)\u00a0and (TASE: PTNR),\u00a0a leading Israeli communications operator,\u00a0announces\u00a0that it filed a purchase offer to the arrangement manager of Marathon (018) Xfone Ltd. (“Marathon“), to purchase Marathon‘s business activity. The main principles of the Offer are below (the “Offer“): 1.\u00a0 Partner will purchase Marathon’s business activity, including liabilities to its customers and excluding rights or debts originating from the network sharing agreement between Marathon and Cellcom Israel Ltd (the “ Purchase “), provided that the Purchase is free of any debt, liability, current or future claim arising before the purchase date or arising from the purchase itself, as is customary in such proceedings. … <\/p>\n

Continue reading “Partner Communications Announces Offer To Purchase The Operation Of Marathon 018 Xfone”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-531548","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPartner Communications Announces Offer To Purchase The Operation Of Marathon 018 Xfone - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/partner-communications-announces-offer-to-purchase-the-operation-of-marathon-018-xfone\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Partner Communications Announces Offer To Purchase The Operation Of Marathon 018 Xfone - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire ROSH HA’AYIN, Israel, Aug. 26, 2021 \/PRNewswire\/ — Partner Communications Company Ltd. (“Partner” or the “Company”) (NASDAQ: PTNR)\u00a0and (TASE: PTNR),\u00a0a leading Israeli communications operator,\u00a0announces\u00a0that it filed a purchase offer to the arrangement manager of Marathon (018) Xfone Ltd. (“Marathon“), to purchase Marathon‘s business activity. The main principles of the Offer are below (the “Offer“): 1.\u00a0 Partner will purchase Marathon’s business activity, including liabilities to its customers and excluding rights or debts originating from the network sharing agreement between Marathon and Cellcom Israel Ltd (the “ Purchase “), provided that the Purchase is free of any debt, liability, current or future claim arising before the purchase date or arising from the purchase itself, as is customary in such proceedings. … Continue reading "Partner Communications Announces Offer To Purchase The Operation Of Marathon 018 Xfone"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/partner-communications-announces-offer-to-purchase-the-operation-of-marathon-018-xfone\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-26T09:37:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/1334689\/Partner_Communications_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/partner-communications-announces-offer-to-purchase-the-operation-of-marathon-018-xfone\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/partner-communications-announces-offer-to-purchase-the-operation-of-marathon-018-xfone\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Partner Communications Announces Offer To Purchase The Operation Of Marathon 018 Xfone\",\"datePublished\":\"2021-08-26T09:37:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/partner-communications-announces-offer-to-purchase-the-operation-of-marathon-018-xfone\\\/\"},\"wordCount\":634,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/partner-communications-announces-offer-to-purchase-the-operation-of-marathon-018-xfone\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1334689\\\/Partner_Communications_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/partner-communications-announces-offer-to-purchase-the-operation-of-marathon-018-xfone\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/partner-communications-announces-offer-to-purchase-the-operation-of-marathon-018-xfone\\\/\",\"name\":\"Partner Communications Announces Offer To Purchase The Operation Of Marathon 018 Xfone - 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