[November 20, 2017] |
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Partner Communications Announces Negotiations with Cellcom Re Potential Fiber Infrastructure Deployment and Right of Use Agreement
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 (News - Alert) 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 Statements This
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 Communications 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™ 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/
View source version on businesswire.com: http://www.businesswire.com/news/home/20171120005386/en/
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