Partner Seeks New Partner

Hong Kong's Hutchison Whampoa has reversed its decision to regain a stake in leading Israeli telecoms operator Partner Communications. Hutchison had previously held a share of Partner, but exited in 2009. The company announced in June it would pay US$125mn for 75% of Scailex Corporation, which owns 44.5% of Partner. However, Hutchison has now announced it will pull out of the deal for a number of reasons including Partner's weak Q212 results. BMI believes the deal's termination puts Partner's future in question, particularly regarding how the company will address its debt burden.

To read the full article, please choose one of the following options: