Partner dismisses bids for stake in fibre unit

Partner dismisses bids for stake in fibre unit

Israeli operator Partner Communications decided not to accept any of the bids received from potential investors for a 20% stake in its fibre infrastructure unit.

TeleGeography reports that after receiving inquiries from interested parties, in November last year Partner considered soliciting offers for a stake in the rights to use its current and future fibre-optic networks. 

To execute this plan, Partner indicated that it would set up a new unit with one or more investors, transfer the rights to its fibre infrastructure to this newly formed entity, and then sell a 20% stake in the joint venture.

In February this year, Partner announced that “various investors” had submitted bids for in excess of ILS550 million (US$167 million) for the available stake.