Bezeq Israel fibre optic to reach one million households by year-end

Bezeq Israel fibre optic to reach one million households by year-end

'Bezeq' The Israel Telecommunication Corp announced that its deployment of an ultra-fast fibre optics network had reached 480,000 homes. Chief Executive David Mizrahi said he expected to reach 1 million households by the end of 2021.

In the mobile sector, Bezeq’s subsidiary Pelephone saw an uptick in accesses, reporting a customer base of 2.492 million as of 31 March 2021, up from 2.356 million a year earlier, with growth in both post-paid and pre-paid accesses, which stood at 2.030 million (Mar-20: 1.928 million) and 462,000 (Mar-20: 428,000), respectively.

The Israeli communications provider has released its financial results for the quarter ended 31 March 2021, reporting a 1.6% year-on-year increase in revenue, to ILS2.22 billion (USD683 million), with a 3.5% rise in fixed-line revenues.

"The increase in revenues was primarily due to an increase in revenues in Bezeq Fixed-Line and Bezeq Online, partially offset by a decrease in revenues in TV provider Yes," said an earnings release.

Bezeq Israel said its net profit increased by 24.8 percent to ILS 408 million in the first quarter ended 31 March compared with ILS 327 million in the same period in 2020.

Meanwhile, Bezeq's Board of Directors approved the plan for structural change in the subsidiaries: the merger between Bezeq International and Yes as well as the spin-off of the ICT business division to a new and separate company.

This decision was driven by the convergence in activities in this sector, commercial and regulatory changes in the respective markets of both subsidiaries, as well as our intent to strengthen their operations through the sale of triple-play bundles and to deepen the synergies and efficiencies of the subsidiary companies to generate value for all stakeholders.

Once a state-owned monopoly, Bezeq had until now been barred from offering discounted packages of phone, TV, and internet, unlike its smaller rivals.

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