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Stock Market & Financial Investment News

News Breaks
July 21, 2014
05:26 EDTPTNRPartner Communications receives lawsuit, motion for class action
Partner Communications announces that it was served with a lawsuit and a motion for the recognition of this lawsuit as a class action, filed against Partner and against additional cellular operators and content providers on July 15 in the Tel-Aviv - Jaffa District Court. The claim alleges, inter alia, that the cellular operators, including the company, breached legal provisions and provisions of their license and thereby created a platform that lead to the customers' damages alleged in the claim. If the lawsuit is recognized as a class action the total amount claimed against all of the defendants is estimated by the plaintiff to be approximately NIS 300M. The amount claimed against Partner is not estimated separately. Partner is reviewing and assessing the lawsuit and is unable, at this preliminary stage, to evaluate, with any degree of certainty, the probability of success of the lawsuit or the range of potential exposure, if any.
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April 9, 2015
05:31 EDTPTNRPartner Communications announces amendment to Brand License Agreement
Partner Communications announces that it has entered with Orange Brand Services Limited into an amendment regarding the Brand Licence Agreement for the use of the Orange brand in Israel. The Amendment is effective as of March 31, 2015. Under the Amendment, the BLA will terminate after a period of ten years commencing on April 1, 2015, unless extended by agreement between the parties, negotiated in good faith. The Amendment also addresses royalties payable by Partner to Orange and provides that the royalty rate which was applicable during the past three years will be maintained during the next four years, subject to certain conditions set in the Amendment. Following March 31, 2019, the Amendment provides for the royalty rate to increase. However, the Amendment does not change Partnerís right to terminate the BLA at any time upon six months advanced notice.

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