Partner Communications Announces Negotiations with Cellcom Re Potential Fiber Infrastructure Deployment & Right of Use Agreem...
November 20 2017 - 3:01AM
Business Wire
Partner Communications Company Ltd. ("Partner" or the
"Company") (NASDAQ and TASE: PTNR), a leading Israeli
communications operator, announces that the Company is holding
negotiations with Cellcom Israel Ltd. ("Cellcom"), another
Israeli telecommunications operator, regarding a potential long
term cooperation agreement, for the deployment of a fiber optics
infrastructure by both companies, whereby each party will be
entitled to purchase from time to time, as per its needs and at its
sole discretion, fiber optic infrastructure services (including
Indefeasible Right of Use - IRU) from the other party's present
and/or future fiber optics infrastructure in order to connect
residential buildings throughout Israel ("Agreement"). The
Agreement, if concluded and executed, will allow the companies to
avoid duplicated future deployment, as well as allow the Company to
accelerate the deployment rollout of the fiber optics
infrastructure while reducing costs and improving its ability to
provide quality services, for the benefit of the customers and the
competition in the telecommunications market. At the same time, the
Company is exploring other alternatives to accelerate its
deployment of fiber infrastructure. The finalization of the
Agreement is subject to further negotiations between the parties
and if concluded, the execution of the Agreement will be subject to
the required regulatory approvals.
Forward Looking
StatementsThis press release includes forward-looking
statements, as this term is defined in 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 “will”, "believe", "anticipate", "expect",
"intend", "strive", "seek", "plan", "could", "may", "foresee",
"target", "objective", "goal", declensions thereof and similar
expressions typically convey forward-looking statements, but these
words are not the only words that convey these statements. We have
based these forward-looking statements on our current knowledge and
our present beliefs and projections regarding possible future
events. These forward-looking statements include the Company's
expectations regarding the acceleration of the Company's deployment
rollout of the fiber optics infrastructure, the reduction of costs
and improvement of the Company's ability to provide quality
services. These statements are subject to risks, uncertainties and
assumptions, including: (i) the uncertainty as to whether the
negotiations will be concluded; (ii) that the required regulatory
approvals will be received; (iii) that the Agreement will be
executed; and (iv) that the Company will avoid duplicate future
deployment. Furthermore, the effect of the Agreement on the
Company's results of operations, if concluded and executed, is
subject to the actual cooperation executed.
About Partner
CommunicationsPartner 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™ and its shares are traded on the Tel Aviv Stock Exchange
(NASDAQ and TASE: PTNR).For more information about Partner
see: http://www.partner.co.il/en/Investors-Relations/lobby/
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version on businesswire.com: http://www.businesswire.com/news/home/20171120005386/en/
Partner CommunicationsMr. David (Dudu) Mizrahi,
Tel: +972-54-781-4951Chief Financial OfficerorMs. Liat Glazer
Shaft, Tel: +972-54-781-5051Head of Investor Relations &
Corporate ProjectsE-mail: investors@partner.co.il
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