012 Smile.Communications to Sell its Current Telecom Business to Ampal for NIS 1.2 Billion
16 Novembre 2009 - 5:54PM
PR Newswire (US)
PETACH TIKVA, Israel, November 16 /PRNewswire-FirstCall/ -- 012
Smile.Communications (NASDAQ Global Market and TASE: SMLC), an
Israeli telecommunications service provider, today announced that
it has signed an agreement with a wholly owned subsidiary of
Ampal-American Israel Corporation (NASDAQ:AMPL) to sell its current
telecom business for NIS 1.2 billion, or approximately $318
million. The transaction is subject to customary closing
conditions, including the receipt of regulatory approvals from the
Israel Ministry of Communications and the Israel Antitrust
Commissioner. Commenting on the transaction, Ms. Stella Handler,
CEO of 012 Smile.Communications, said, "We are very pleased to
enter into this agreement with Ampal to sell 012
Smile.Communications' business. This transaction represents an
important step in finalizing our recently announced agreement to
acquire the controlling stake in Bezeq The Israel Telecommunication
Corp., Israel's largest telecommunications provider (TASE:BZEQ)."
Mr. Shaul Elovitch, Chairman of 012 Smile.Communications, added,
"During the past several years we have worked diligently to build
012 Smile.Communications' operations, with the result that 012
Smile has become one of Israel's leading telecommunications
providers and brands. We congratulate Ampal on its decision to
acquire the business of 012 Smile.Communications and on the
successful conclusion of our agreement." J.P. Morgan plc acted as
exclusive financial adviser and Fischer Behar Chen Well Orion &
Co. as legal adviser to 012 Smile.Communications in connection with
the transaction. About 012 Smile.Communications 012
Smile.Communications is a leading provider of communication
services in Israel, offering a wide range of broadband and
traditional voice services. The Company's broadband services
include broadband Internet access with a suite of value-added
services, specialized data services and server hosting, as well as
new innovative services such as local telephony via voice over
broadband and a WiFi network of hotspots across Israel. Traditional
voice services include outgoing and incoming international
telephony, hubbing, roaming and signaling and calling card
services. 012 Smile.Communications services residential and
business customers, as well as Israeli cellular operators and
international communication services providers through its
integrated multipurpose network, which allows the Company to
provide services to almost all of the homes and businesses in
Israel. 012 Smile is a majority owned subsidiary of Internet Gold -
Golden Lines Ltd. (NASDAQ:IGLD) one of Israel's leading
communications groups with a major presence across all Internet
related sectors. Internet Gold and 012 Smile are part of the
Eurocom Communications Group. For additional information about 012
Smile.Communications Ltd., please visit the Company's investors'
site at http://www.012.net/. Forward-Looking Statements This press
release contains forward-looking statements that are subject to
risks and uncertainties. Factors that could cause actual results to
differ materially from these forward-looking statements include,
but are not limited to, general business conditions in the
industry, changes in the regulatory and legal compliance
environments, the failure to manage growth and other risks detailed
from time to time in 012 Smile.Communications' filings with the
Securities Exchange Commission. These documents contain and
identify other important factors that could cause actual results to
differ materially from those contained in our projections or
forward-looking statements. Stockholders and other readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date on which they are made.
We undertake no obligation to update publicly or revise any
forward-looking statement. For further information, please contact:
Investor relations contacts: Mor Dagan - Investor Relations / Tel:
+972-3-516-7620 Garth Russell - KCSA Strategic Communications /
Tel: +1-212-896-1250 DATASOURCE: 012 Smile.communications Ltd.
CONTACT: For further information, please contact: Investor
relations contacts: Mor Dagan - Investor Relations, / Tel:
+972-3-516-7620; Garth Russell - KCSA Strategic Communications, /
Tel: +1-212-896-1250
Copyright