Partner Seeks New PartnerAugust 2012 | M&A Analysis
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.
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