Partner completes takeover of 012 Smile Telecom

Purchase was the largest non-real-estate acquisition in Israel in 2010.

Partner Communications confirmed Thursday the completion of its NIS 1.45 billion purchase of 012 Smile, after the takeover was approved Tuesday by the Communications Ministry and other regulators.
The mobile-network operator, which operates under the Orange brand name, purchased Ampal-American Israel Corporation’s stake in 012 Smile in a deal last October. The purchase was the largest non-real-estate acquisition in Israel in 2010.
Partner CEO Ya’acov Gelbard said the purchase was an important strategic step in the company’s path to becoming a comprehensive communication group.
“This deal will expand the range of Partner’s services and products, to the benefit of Partner’s customers and the benefit of the broader public,” he said.