TeleGeography Logo

Bezeq warns of possible Pelephone writedown

30 Jul 2019

Israel’s Bezeq has announced that there is a possibility that it may be required to write down the value of its mobile subsidiary Pelephone, by between ILS800 million and ILS1.1 billion (USD227 million-USD312 million). In a statement regarding the matter Bezeq noted that, as part of the preparation of its financial statements for the second quarter of 2019, the Pelephone board had held a meeting ‘regarding indications of a decline in value and the multi-year forecast of [the cellular operator]. As a result, Bezeq said it was making the announcement regarding a possible impairment of Pelephone’s value after considering the cash flow forecast. It did though add that the ILS800 million-ILS1.1 billion figure is an ‘initial internal estimate’, and said that in due course an external valuation will be carried out, ‘as a result of which it is possible that the impairment on the company’s books will be different and even materially different’.

Israel, Bezeq (Israel Telecommunication Corporation), Pelephone

GlobalComms Database

Want more? Peruse the GlobalComms Database—the most complete source of intel about mobile, fixed broadband, and fixed voice markets.

TeleGeography

TeleGeography is the definitive source for telecom news, numbers, and analysis. Explore the full research catalog.