Partner Communications (PTNR) announces that further to the company's reports with respect to the examination of new potential growth engines, among others, in the fintech and finance industries and as part of its preparation for entry into the financial services sector, Partner published today an invitation to receive offers from credit card companies for the provision of services and the establishment of a customer club offering a range of financial products based on nonbank credit card. In the invitation sent to the credit companies operating in Israel, Partner seeks to receive offers for the provision of services from one credit card company, noting that the customer club will be based on an infrastructure of an international credit card company - Visa (V) or MasterCard (MA) - and/or an international private label - American Express (AXP) or Diners. This step is the first in a series of steps that the company is working on as part of its activity formed under the name Partner Finance.
Partner Communications reports that following the company's announcement on May 31 of a share buy-back plan of up to an aggregate amount of NIS 200 million of its ordinary shares which are traded on the Tel Aviv Stock Exchange, as of August 5, the company has completed the repurchase of the first tranche of the Plan, in the amount of NIS 50 million. In accordance with the Plan, the company has repurchased 3,636,190 of its ordinary shares at an average price per share of NIS 13.75. As of this date, the company's treasury shares totals an amount of 5,022,493. The implementation of subsequent tranches under the Plan will be subject to approval of the company's Board of Directors.
Partner Communications announced that the company received a lawsuit and a motion for the recognition of this lawsuit as a class action, filed against Partner and its fully owned subsidiary, 012 Smile Telecom in the Central District Court on April 11. The claim alleges that there is a malfunction in the telephone system of Partner and 012 Smile, according to which when a call recipient activates a follow-me service to a number abroad and the call is diverted abroad via 012 Smile, the call segment charge from Israel to overseas applies to the caller, as if he placed an international call, rather than to the recipient of the call that activated the follow-me service, thereby the respondents are violating the provisions of the law and the agreements with their customers. The total amount claimed against the Respondents if the lawsuit is recognized as a class action, was not stated by the plaintiff. 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.
Partner Communications (PTNR) announced a first of its kind collaboration agreement in Israel between Amazon Prime Video (AMZN) and Partner TV. Partner TV customers now have direct access to the Amazon Prime Video service on Partner TV set top box, which offers access to view a broad selection of global content and Amazon Prime original content, including TV series and movies. Partner TV is the first and only television service in Israel to offer Amazon Prime Video application on a set top box and the first OTT service in the world to support this application on an Android TV set top box.