PR Newswire | Dec 16, 2021 04:54AM EST

SUBJECT TO CLOSING CONDITIONS TO PURCHASE THE COMPANY'S SHARES UNDER ADV. EHUD SOL'S RECEVIERSHIP

12/16 03:53 CST

PARTNER COMMUNICATIONS REPORTS THAT THE COURT HAS APPROVED A TRANSACTION SUBJECT TO CLOSING CONDITIONS TO PURCHASE THE COMPANY'S SHARES UNDER ADV. EHUD SOL'S RECEVIERSHIP ROSH HA'AYIN, Israel, Dec. 16, 2021

ROSH HA'AYIN, Israel, Dec. 16, 2021 /PRNewswire/ -- Partner Communications Company Ltd. ("Partner" or the "Company") (NASDAQ: PTNR) (TASE: PTNR), a leading Israeli communications operator,reports, that following its report dated November 25, 2021 regarding an offer to purchase 49,862,800 of the Company's shares held by S.B. Israel Telecom Ltd, that constitute approximately 27% of the Company's issued and outstanding share capital (the "Shares"), received by Advocate Ehud Sol as their permanent receiver, on December 14, 2021 the Tel Aviv District Court (the "Court") has granted an approval in principal, effective as of December 15, 2021, for the purchase of the Shares by a group of parties led by the Phoenix group, Mr. Avi Gabbay and Mr. Shlomo Rodav (the "Offeror"), in consideration for US $ 300,000,000 (the "Offer).

The Court's approval was subject to no other offer equal in value to that of the Offeror together with the required guarantee, to the satisfaction of the permanent receiver, being submitted by December 15, 2021. No such other offer has been submitted and therefore the Court's approval became effective as of December 15, 2021.

As detailed in the Company's report dated November 25, 2021, the Offer includes other customary closing conditions which have not been met yet.

About Partner Communications

Partner Communications Company Ltd. ("Partner") is a leading Israeli provider of telecommunications services (cellular, fixed-line telephony, internet and television services). Partner's ADSs are quoted on the NASDAQ Global Select Market(tm) and its shares are traded on the Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR).

For more information about Partner see:

http://www.partner.co.il/en/Investors-Relations/lobby/

Contacts:

Mr. Amir AdarMr. Tamir Amar Head of Investor Relations & CorporateDeputy CEO & Chief Financial ProjectsOfficer Tel: +972-54-781-5051Tel: +972-54-781-4951 Email: investors@partner.co.il

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SOURCE Partner Communications Company Ltd.