Watchdog approves Partner stake sale

1 Apr 2022

Israeli telco Partner Communications was granted Ministry of Communications approval for its pending stake sale on 29 March. The deal will see Amphissa Holdings purchase 49,862,000 of the company’s shares from S.B. Telecom, which constitutes approximately 27% of Partner’s issued and outstanding share capital. Partner expects the transaction to be completed on 4 April 2022.

As per the approval document, the general partner of Amphissa Holdings is Israel Lighterage and Supply Co., which – to the best knowledge of the company – is 50% owned by Shlomo Rodav and 50% owned by Roni Gat and members of his family. The limited partners are mostly institutional investors from the Phoenix, Clal and Menora groups. Notably, the approval allows Avi Gabbay – former CEO of rival operator Cellcom – to join the partnership in the future as a limited partner and as general partner, directly or through a company under his control.

According to TeleGeography’s GlobalComms Database, the deal – which was proposed in November 2021 – is valued at USD300 million.

Israel, Partner Communications Company