Partner Communications Co Ltd. (PTNR) announced that its Audit Committee and Board approved and ratified the existing perennial agreement with Scailex Corp. Ltd., the controlling shareholder of the company, to purchase, from time to time, cellular handsets, accessories and spare parts, manufactured by Samsung, that are imported to and marketed in Israel by Scailex.
Additional commercial arrangements between Scailex and Partner Communications related to the annual volumes of purchases of cellular handsets, accessories and spare parts and to the annual gross profit margin of Scailex from transactions with Partner Communications were also approved.
It was decided that the total volume of the transactions between Scailex and the company shall not exceed NIS 250 million annually. Scailex and Partner may increase the scope of annual purchases by an additional amount of up to NIS 50 million, subject to the approval of the Audit Committee and Board of Directors of each of the companies.
The company noted that the Samsung Products Agreement shall become effective subject to the approval of its General Meeting of Shareholders.
For comments and feedback: editorial@rttnews.com