Market sources believe that Partner's planned bid is designed to act as a counterweight to the bid by Cellcom.
Israeli telecom company Partner Communications Co. Ltd. (Nasdaq: PTNR; TASE:PTNR) plans bidding to buy telecom operator Xfone and claims it has not received all the required information about the company, ahead of the upcoming creditors meeting.
Market sources believe that Partner's planned bid is designed to be a counterweight to the bid by Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) to buy Xfone, which also is highly unlikely to receive the regulators' permission to make the acquisition.
Partner is not prepared to allow Cellcom to complete the acquisition of Xfone, having already acquired Golan Telecom, and is hoping that the regulator will grant it the same chance to increase its market share as Cellcom was given.
Partner has requested information about Xfone but claims it has only received partial information.
Published by Globes, Israel business news - en.globes.co.il - on August 16, 2021
© Copyright of Globes Publisher Itonut (1983) Ltd. 2021
Partner