In early July, Scailex reported plans to bid for the telecommunications company.
Scailex Corp. Ltd. (TASE: SCIX; Pink Sheets:SCIXF), controlled by Ilan Ben-Dov, is in talks with a third party on a private placement of Scailex securities. Scailex will use the proceeds to fund a bid for the controlling interest in Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR). Scailex did not disclose the name of the third party.
In early July, Scailex reported that it plans to submit a non-binding bid for Partner. Hutchison Telecommunications International Ltd. (NYSE: HTX; HKSE: 2332) is selling its 51.33% holding in Partner.
Scailex added that the private placement will be of securities for cash. Control of the company will remain with Suny Electronics Ltd. (TASE: SUNY). Suny, controlled by chairman Ben-Dov, owns about 85% of Scailex.
Published by Globes [online], Israel business news - www.globes-online.com - on July 22, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009