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
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)
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.
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, 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.
Nov. 30, 2015, 10:19 AM
- Israeli telecom Partner Communications (NASDAQ:PTNR) is off 2.6% in early going after it acknowledged receiving two lawsuits that plaintiffs are pursuing as class actions against it and its subsidiary 012 Smile.
- The suits charge the companies with requiring customers to purchase specialized equipment to get fixed-line phones to work that's not in accordance with the provision of their licenses.
- If recognized as class actions, the claims against Partner and 012 Smile will be for 116M shekels and 64M shekels respectively -- 180M shekels total, or about $46.5M.
Oct. 27, 2015, 11:52 AM
- After a day of gains fueled by comments from Israel's top communications minister, the country's top telecoms are selling off today as other government officials signaled their opposition to consolidation.
- Partner Communications (PTNR -3.3%) and Cellcom Israel (CEL -2.4%) were both lower after gaining more than 3.6% yesterday.
- While the ministry's director general, Shlomo Filber, said yesterday that “I don’t see a problem with Cellcom, Partner or Bezeq buying Golan if they want," other government officials (including the finance ministry) oppose a Golan deal and Filber agreed to convey that opposition to Golan.
- Partner said that most business was approved at its annual general meeting, including terms for CEO Isaac Benbenisti, board re-elections and compensation and the company's auditor, though shareholders voted down severance terms for former CEO Haim Romano.
- Previously: Israeli telecoms rally as regulator suggests competition too heavy (Oct. 26 2015)
Oct. 26, 2015, 11:29 AM
- Israeli telecoms are sharply higher after the director general of the country's Ministry of Communications suggested that competition has driven prices too low, and that there should be fewer operators in the space.
- Partner Communications (NASDAQ:PTNR) is up 4.9% in U.S. trading, while rival Cellcom (NYSE:CEL) is up 2.5%.
- “The market has lost its correct balance regarding price,” Shlomo Filber told Bloomberg, suggesting a departure from the competition-heavier approach of the past two communications chiefs. The 35-shekel (about $9) price of a monthly line isn't economical, he says, compared with OECD prices of 86 shekels (just over $22).
- He also signaled no opposition to consolidation: “I don’t see a problem with Cellcom, Partner or Bezeq (OTCPK:BZQIY) buying Golan if they want ... The market will continue to be competitive even with four main players and other niche players, with rational prices that will enable reasonable profitability and infrastructure investment.”
- Also up in Israeli communications: IGLD +3.9%; BCOM +0.9%.
Aug. 26, 2015, 10:37 AM
- Israeli telecoms are surging today, as Golan Telecom -- a splashy entrant into the market that spurred fierce price cuts from competitors -- says it's hired a bank to explore selling itself.
- A sale would take some time but likely then mean price hikes from competitors. Cellcom (CEL +16.1%), Partner Communications (PTNR +12.3%) and Bezeq (OTCPK:BZQIY +0.6%) were all up in Tel Aviv and U.S. trading.
- Golan has 850K subscribers, about a third of that of market leader Cellcom.
Aug. 26, 2015, 9:34 AM
- Cellcom Israel (NYSE:CEL) has opened up 19.9% after sealing an agreement with an Israeli bank for a deferred loan of NIS 140M (about $35.7M), to be provided to Cellcom in December 2016.
- The loan will bear a fixed interest rate of 4.9%, with principal payable in five equal payments on June 30 each year between 2018 and 2022.
- In the deal's covenants, the interest rate could be adjusted in some cases, and Cellcom is on the hook for a commitment fee until the loan is taken.
- Also up: rival Partner Communications (PTNR +14.7%).
Aug. 25, 2015, 9:27 AM
- Cellcom Israel (NYSE:CEL) is up 7.6% premarket in U.S. trading, benefiting from a Tel Aviv stock exchange that is up along with the rest of Europe, +3% (with Israel's hard-hit big banks rebounding strongly today).
- Peer Partner Communications (NASDAQ:PTNR) is inactive in U.S. trading, but also up 4.1% in Tel Aviv. Bezeq (OTCPK:BZQIY) is up 4.5% in Israel as well.
- Cellcom shares are down 34% YTD, but over the past three months are up more than 40%.
Aug. 17, 2015, 10:08 AM
- Cellcom Israel (CEL +13.5%) and peer Partner Communications (PTNR +9.7%) are both up heavily, continuing a Sunday rally in Tel Aviv for telecom stocks.
- B Communications (NASDAQ:BCOM), owner of incumbent Israel landline provider Bezeq, is up 1.7% in light U.S. trading as well.
- Cellcom has set its proxy statement for an annual general meeting to come Oct. 7. Along with director re-election and reappointing its auditor, the company will consider a grant of 525K options to CEO Nir Sztern (at exercise prise of $6.68). Shares are trading currently at $7.07.
- The company also disclosed beneficial owners of more than 5% of its shares: DiscDiscount Investment Corp. (subsidiary of IDB), with 45.2%, and Psagot Investment House, with 6.7%. Directors and executive officers as a group held 0.22%.
Aug. 10, 2015, 12:32 PM
- In Israel wireless market news, Pelephone (OTCPK:BZQIY +3.1%) says its license has been amended to include providing LTE service, and it's been awarded dedicated frequencies to do so as part of Israel's tender.
- Earlier, Partner Communications (PTNR +5%) highlighted its receipt of 5 MHz from the 4G tender that will allow it to improve data performance. The company has 1,400 4G sites already active.
- Cellcom (NYSE:CEL) is up 5.3% as well. In January, it had received 3 MHz in the 1800 MHz band.
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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