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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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Following the political storm generated by Orange CEO Stéphane Richard‘s comments in Egypt supporting a boycott of Israel (“I wish I could dump Israel tomorrow, ” he said), Orange has signed a More…

orange-ceo-stephane-richard

By Globes On Thursday, June 11th, 2015

Orange S.A. CEO Stephane Richard has landed at Ben Gurion airport in the wake of his comments last week in Cairo that his company wants to break off contacts with Israeli Orange franchisee Partner Communications More…

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– – In a stunning turn of events, Orange SA CEO Stephane Richard is on his way to Israel. He accepted an invitation to visit the country from Israeli Prime Minister Binyamin Netanyahu. So here is the story More…

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– – Contrary to earlier reports that the international telecommunications firm Orange SA would be terminating its relationship with Israel’s Partner communications, which pays for the right to use its More…

Stephane Richard

– – After Israelis woke up today to the shocking news that CEO Stephane Richard of French telecom giant Orange SA said that he would pull his company’s name from the Israeli marketplace “tomorrow” if More…

German Media Awards

The fall out continues after CEO Stephane Richard of French telecom giant Orange SA said that he would pull his company’s name from the Israeli marketplace “tomorrow” if he could. Israel’s Partner More…

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