RAMAT GAN, Israel, January 14,
2016 /PRNewswire/ --
Internet Gold - Golden Lines Ltd. (NASDAQ Global Market and
TASE: IGLD) today announced the sale of 575,000 ordinary shares of
its subsidiary, B Communications Ltd. (NASDAQ Global Market and
TASE: BCOM), representing approximately 1.92% of the issued and
outstanding shares of B Communications Ltd. The aggregate sale
price is approximately NIS 56
million. As a result of the sale, Internet Gold holds
approximately 65% of the outstanding shares of B
Communications.
Commenting on the transaction, Doron
Turgeman, CEO of Internet Gold, said, "The proceeds of the
sale will be used to reduce our net financial debt and will result
in the improvement in the financial ratios in our balance sheet.
This is another step in our efforts to reduce our our debt and
increase our cash position. We continue to believe in Bezeq's long
term strategy while preserving our controlling interest in B
Communications. Looking forward we will continue our efforts to
strengthen our financial stability and liquidity.
About Internet Gold
Internet Gold is a telecommunications-oriented holding company
which is a controlled subsidiary of Eurocom Communications Ltd.
Internet Gold's primary holding is its controlling interest in B
Communications Ltd. (TASE and Nasdaq: BCOM), which in turn holds
the controlling interest in Bezeq, The Israel Telecommunication
Corp., Israel's largest
telecommunications provider (TASE: BEZQ). Internet Gold's shares
are traded on NASDAQ and the TASE under the symbol IGLD. For more
information, please visit the following Internet sites:
http://www.igld.com
http://www.bcommunications.co.il
http://www.ir.bezeq.co.il
Forward-Looking Statements
This press release contains forward-looking statements that are
subject to risks and uncertainties. Factors that could cause
actual results to differ materially from these forward-looking
statements include, but are not limited to, general business
conditions in the industry, changes in the regulatory and legal
compliance environments, the failure to manage growth and other
risks detailed from time to time in B Communications' filings with
the Securities Exchange Commission. These documents contain
and identify other important factors that could cause actual
results to differ materially from those contained in our
projections or forward-looking statements. Stockholders and
other readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date on
which they are made. We undertake no obligation to update
publicly or revise any forward-looking statement.
For further information, please contact:
Idit Cohen - IR Manager
idit@igld.com / Tel: +972-3-924-0000
Investor relations contacts:
Hadas Friedman - Investor
Relations
Hadas@km-ir.co.il/ Tel: +972-3-516-7620
SOURCE Internet Gold - Golden Lines Ltd.