Elron no longer a Partner

8 Dec 2006

Israeli holding company Elron Electronic Industries said it has agreed to sell its minority stake in mobile operator Partner Communications to a group of unnamed institutional investors for USD40 million. Elron owns 3.9 million shares in the cellco, equal to 0.54% of equity. The stake is being sold at a 20% discount and the deal is subject to regulatory approval. Elron is also an investor in fixed line operator NetVision, which is currently in the process of taking over sister companies Barak ITC and GlobCall Communications.

Israel, Partner Communications Company