Partner Communications Company Ltd., (PTNR), an Israeli mobile communications operator, said Thursday that its offer for the acquisition of 100% of the issued and outstanding share capital of MIRS Communications Ltd. and/or MIRS operations from Motorola Israel Ltd. would not be proceeding and discussions have been terminated.
The company had announced on September 21 that it submitted an offer, subject to conditions, for the acquisition of MIRS, a cellular company operating in Israel. MIRS uses the iDEN technology and has an estimated market share of 4%-5%.
Partner currently provides telecommunications services under the Orange brand and has about 2.944 million subscribers in Israel.
PTNR closed Wednesday's regular trade at $18.82, down from the previous close of $18.92, on 238,900 shares.
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