Partner dismisses bids for stake in fibre unit

Israeli operator Partner Communications decided not to accept any of the bids received from potential investors for a 20% stake in its fibre infrastructure unit.

TeleGeography reports that after receiving inquiries from interested parties, in November last year Partner considered soliciting offers for a stake in the rights to use its current and future fibre-optic networks. 

To execute this plan, Partner indicated that it would set up a new unit with one or more investors, transfer the rights to its fibre infrastructure to this newly formed entity, and then sell a 20% stake in the joint venture.

In February this year, Partner announced that “various investors” had submitted bids for in excess of ILS550 million (US$167 million) for the available stake.