Copying and distributing are prohibited without permission of the publisher
Hutch buys control of Orange Israel
07 June 2012
Hutchison Whampoa and Li Ka-Shing Foundation take back control of Orange Israel owner Partner Communications
Hutchison Whampoa and the Li Ka-Shing Foundation have agreed to buy a 75% share in Scailex, owner of a 44.5% stake in Israeli operator Partner Communications, which operates under the name Orange Israel.
They have bought the shares from Suny Electronic for $125 million in cash.
The move marks a return to the Israeli market after three years. The company sold a controlling share in Partner to Scailex in 2009. Hutch — which had created the first Orange brand, in the UK, created Partner in 1997 and introduced its mobile network in 1999 as part of a strategy to license the Orange brand worldwide. France Telecom bought Orange UK and took control of the brand in 2000, and Israel is the only survivor of the use of Orange from the Hutchison era.
Under the deal, Suny will buy Scailex’s Samsung mobile handsets import, distribution and services business for $100 million in order to reduce Scailex’s debt, which now amounts to $760 million. GTB
More from GTB
Orange Israel extends licence deal 03 May 2011
Ericsson wins Israel network upgrade 27 Oct 2010
Hutchison Whampoa considers telecom buyout 05 Jan 2010