It’s like everyone’s “trading Oranges” these days. Just recently, we’ve seen Three Austria acquiring the local branch of Orange and now Partner Communications is looking to sell its big stake (44.5%) in Orange Israel.
The company has apparently already hired investment bankers to look at options to get as much money as possible for the mobile network. To sweeten the deal, one of the advisors, Deutsche Bank, said it will offer credit lines of up to $1 billion if necessary to the prospective buyer. Partner Communications’ stake is worth around $590 million, though there seem to be an option to bid for the publicly quotes shares as well.
The company had previously tried to sell a minority stake in Orange Israel, but it failed to find interested buyer. We’ll see whether they’ll succeed this time…
[Via: CellularNews]