Elron to post gain on Partner sale

Elron Electronic Industries Ltd., the Tel Aviv holding company for technology investments, said it closed the sale of its 2.5 percent stake, or 3.9 million shares, in Partner Communications Co. to several Israeli institutions for about $40 million.

MarketWatch: In-depth global business coverage Elron Electronic Industries Ltd., the Tel Aviv holding company for technology investments, said it closed the sale of its 2.5 percent stake, or 3.9 million shares, in Partner Communications Co. to several Israeli institutions for about $40 million. The total indicates a per-share price of about $10.26. Elron said it would record a fourth quarter, after-tax gain on the deal of about $16m. under US generally accepted accounting principles. MarketWatch: In-depth global business coverage