Israeli mobile carrier Partner severs Orange ties


Partner is receiving €90 million compensation for the damaging comments by Orange CEO Stephane Richard.

Israeli mobile carrier Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) officially announced today that it is severing ties with France's Orange and ending their brand licensing agreement. The end of the relationship comes after 17 years of cooperation and a crisis last year when Orange International CEO Stephane Richard distanced himself from Israel when speaking in Egypt. He said that he would end Orange's cooperation with Israel and leave the country immediately for political reasons, if he could. Richard subsequently apologized.

In its announcement today Partner said it had, "Notified Orange of its decision to terminate the Orange brand license agreement according to the framework agreement between the parties. Partner will continue providing goods and services under the Orange brand name until further announcement." However, it is safe to assume that Partner will soon be launching its own brand.

Orange is paying Partner €40 million compensation in several quarterly payments as damages for its CEO's statement and a further €50 million will be paid in another year after cooperation between the two companies is ended.

Published by Globes [online], Israel business news - - on January 5, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

View comments in rows
Update by email about comments talkback
Your name
Please insert your name
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2016