Published On: Sun, Jul 12th, 2015

Orange to pay Partner first €5m in compensation in Q3

Orange will pay Partner €40 million damages, and €50 million more if the Israeli mobile carrier ends use of the Orange brand name.

 

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Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) will begin recognizing revenue from its agreement with Orange starting in the third quarter of 2015. The revenue is compensation that Partner will receive for ceasing its use of the Orange brand name and in the first stage of the damage caused to the company by the public controversy caused by Orange International CEO’s remarks.

Against all the market predictions that Partner would report better results, as a result of the revenue it stands to receive under the agreement, the situation is more complicated, and Partner will recognize only €5 million, starting in the third quarter of the year… READ MORE

 

Published by Globes [online], Israel business news – www.globes-online.com – on July 12, 2015

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