Thu, Jul. 21, 10:36 AM
- Cellcom Israel (NYSE:CEL) has taken a sharp turn into the red in U.S. trading, down 1%, following news that it got a temporary injunction it sought in the quest to acquire Golan Telecom.
- The injunction freezes an agreement signed by Golan Telecom and Hot Mobile, which Cellcom argued violated its agreement to acquire Golan.
- Cellcom will deposit a bond of 200K shekels to cover damages in case the court rules for Golan.
- Also today in Israel telecom: PTNR -2.5%; OTCPK:BZQIY -0.9%; BCOM -0.9%.
Mon, May 23, 1:46 PM
- In contrast to its rival Cellcom, Israel's Partner Communications (NASDAQ:PTNR) is off 4.3% in U.S. trading after releasing Q1 results where revenue fell 7% and missed expectations.
- It was the first quarter after the company parted ways with Orange and began marketing its offerings under its own Partner brand.
- Profits fell 44%, and EBITDA of 222M shekels fell 2% as well, but beat an expected 195M shekels.
- Revenue breakout: Service revenues, 710M shekels (down 6%); Equipment revenues, 267M shekels (down 9%).
- Cellular ARPU fell 3% to 67 shekels (about $18).
- Free cash flow of 114M shekels was up sharply from a year-ago 21M shekels.
- Press Release
Mon, May 23, 4:16 AM
Wed, Apr. 20, 11:57 AM
- Partner Communications (PTNR +0.6%) is still buying back notes, now repurchasing a set of Series C Notes.
- The company bought 54.135M at par value for a total amount of 61.5M shekels (about $16.4M).
- As in all the buybacks, the company will delist them from trading. It's part of a fall authorization to buy back B, C, and E notes throughout 2016.
- Now read 2016 Might Be A Good Time To Invest In Israel »
Tue, Mar. 29, 10:44 AM
- Partner Communications (PTNR +4.5%) has added to an ongoing notes buyback with a new purchase of Series E Notes.
- The company repurchased just over 14.1M at par value for a total amount of 15.1M shekels (about $3.95M).
- As with other notes bought back, Partner is delisting them from trading.
- Previously: Partner buys back notes to delist (Mar. 22 2016)
Wed, Mar. 23, 6:39 PM
- Partner Communications (PTNR +0.9%) has followed a recent buyback of its notes with more buybacks today.
- The company repurchased series B and series E notes in a total of NIS 37.3M (about $9.7M). It'll follow up by acting to delist the notes from trading.
- Yesterday it bought back B and E notes in an aggregate of NIS 136M. The moves are part of a fall authorization where it planned to buy back series B, C, and E notes up to NIS 250M (about $65M) that expires this October.
Tue, Mar. 22, 10:12 AM
- Following on previous plans, Partner Communications (PTNR +1.8%) says it's bought back debt and will delist it from trading.
- The company had authorized a plan where it would buy back series B, C and E notes up to NIS 250M (about $65M), until Oct. 19, 2016.
- It's executed a repurchase of an aggregate of NIS 136M ($35.4M) worth -- NIS 36M of series B notes, and NIS 100M of series E notes.
Mon, Mar. 14, 10:14 AM
- Partner Communication (NASDAQ:PTNR) is off 1.1% after Q4 results where revenues declined across the board and it swung to a loss on a one-time charge.
- The company took a impairment charge tied to its fixed-line segment that had an impact of 98M shekels (about $25.2M) on operating profit, and NIS 72M ($18.5M) on profit.
- It posted a loss of NIS 65M; excluding the 72M effect, it earned NIS 7M, down 71% Y/Y. EBITDA fell 13% to NIS 217M.
- Revenue breakout: Service revenues, NIS 716M (down 11%); Equipment revenues, NIS 291M (down 3%).
- The company added 24,000 postpaid cellular subscribers, and lost 143,000 net prepaid subscribers. Overall cellular subscriber base fell 4% to 2.72M. Cellular ARPU dropped 6% to NIS 67.
- Conference call link
- Press Release
Mon, Mar. 14, 4:37 AM
Mon, Feb. 22, 10:35 AM
- Partner Communications (NASDAQ:PTNR) has noted two changes to its board: Sumeet Jaisinghani resigned his director's seat this week under normal circumstances. He had served on behalf of S.B. Israel Telecom, Partner's principal shareholder.
- The following day, S.B. Israel Telecom nominated Barak Pridor to the seat and the company appointed him to the board. Pridor -- formerly CEO of Clearforest and a senior VP at Thomson Reuters -- will serve as director until the company's annual general meeting.
Wed, Feb. 17, 7:38 PM
- Partner Communications (PTNR +1.3%), fresh off its new rebranding approach after separating from Orange, says its employees committee and Histadrut claimed a deadlock and declared a labor dispute today.
- That starts a 15-day timetable that could end in a strike or sanctions.
- The employees' representative committee and the union said they are at a deadlock in negotiating an initial collective employment agreement on Partner's terms and policies.
- Previously: Partner cuts ties to Orange, launching new brand (Feb. 16 2016)
Tue, Feb. 16, 9:37 AM
- Israeli telecom Partner Communications (NASDAQ:PTNR) is up 3.9% after cutting the last of its ties with Orange (ORAN +2.6%), rolling out a new brand and identity after eight months of transition following the companies' mid-2015 conflicts.
- Partner will serve its services simply under the name Partner, with a logo that is now noticeably less orange -- changing to a turquoise color.
- Partner CEO Isaac Benbenisti says the rebranding process has been long and expensive, but that the new Partner would be launching a TV service, a move to follow competitor Cellcom (CEL +2%) in reshaping itself into more of a telecoms group.
- The companies came into conflict involving economic activity in Israeli settlements. Last June, amid talk in France of political boycotts of Israel, Orange chief Stephane Richard said he'd terminate the licensing agreement "tomorrow morning" if it were legal; he later apologized to Israel's prime minister, Benjamin Netanyahu.
- Previously: Partner to launch new brand identity after separating from Orange (Feb. 04 2016)
- Previously: Orange -1.1% as Israel's Partner ends brand license agreement (Jan. 05 2016)
Thu, Feb. 4, 9:48 PM
- Israeli telecom Partner Communications (NASDAQ:PTNR) says it plans to launch a new brand and provide most of its goods and services under that brand -- the next step in a process where it's terminated its brand license agreement with Orange (NYSE:ORAN).
- On Jan. 5, the company said it would provide its service and hardware under the Orange brand until further notice; the company now plans a launch event Feb. 16 to unveil the results of its marketing study.
- The carrier had said last summer that it would assess its position in Israel as part of its framework agreement with Orange, following disputes over remarks by Orange chief Stephane Richard about abandoning its relationship with Israel.
- Partner stock is up 32.4% over the past year.
Thu, Jan. 7, 1:32 PM
- Partner Communications (NASDAQ:PTNR) is off 1.9% in U.S. trading today, after acknowledging receiving two lawsuits that are pursuing class action status, which could result in claims against the company for an aggregate 304M shekels (about $77.4M).
- One claim says the company charges customers who are abroad for incoming calls transferred to voice mail. That suit could result in total claims of NIS 70M.
- The other claim says the company charges customers full price for packages intended for use abroad, without allowing them to transfer balances to the next trip abroad or getting any credit for largely unused packages. That action could result in total claims of NIS 234M.
Tue, Jan. 5, 9:27 AM
- Partner Communications (NASDAQ:PTNR) says it will terminate its brand license agreement with France's Orange (NYSE:ORAN) based on the framework agreement the two struck last summer.
- Orange is down 1.1% premarket in U.S. trading.
- In June, the companies set a new framework deal that set up a market study and allowed either the right to terminate the brand license agreement within 12 months. If Partner didn't act to terminate the deal under those terms, either company could then terminate it during the next 12.
- That deal allowed for Partner to get €40M from Orange, with another €50M if the BLA were terminated.
- Partner says it will provide hardware and services under the Orange brand until further notice.
- Updated 9:42 a.m.: Partner is up 3.5% in U.S. trading, while Orange is down 0.7%.
Dec. 3, 2015, 9:45 AM
- Israeli telecoms Cellcom Israel (CEL +2.7%) and Partner Communications (PTNR +1.5%) are both acknowledging receipts of lawsuits seeking class-action status, including one seeking 13B shekels total ($3.37B) from both operators.
- The largest suit alleges that three defendants in Israel's cellular wireless industry unlawfully coordinated to ensure high prices for prepaid calling cards. An estimated 6.7B shekels ($1.74B) is claimed from Cellcom, while an estimated 6.6B shekels is claimed from Partner.
- Meanwhile, Partner also received two other smaller claims: one regarding content blocking for ultra-orthodox customers (against Partner and another party, for 45M shekels total) and another claiming that Partner sold its database to Israel's government without consent, seeking about 24M shekels.
- Those are above and beyond two other actions seeking class-action status filed against Partner and its 012 Smile subsidiary on Monday.
Partner Communications Co. Ltd. engages in the provision of communication services under the Orange and 012 Smile brands. It operates through the Cellular and Fixed-line segments. The Cellular segment offers cellular communication services such as airtime calls, international call, messaging,... More
Industry: Wireless Communications
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