Having sold its holding in Israeli mobile network operator Partner Communications less than three years ago, Hutchison Whampoa is reportedly set to pay USD125 million for 75% of Israeli handset distributor Scailex Corp, which currently holds a 44.5% stake in the cellco. According to Bloomberg, Hutchison Whampoa will acquire the stake from Suny Electronic Ltd, which will retain a 3.6% holding in Scailex, while under the terms of the deal, which is subject to regulatory and other approvals, Scailex will be required to buy back 50% of its bonds.
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OVETEL Partners again; Hutchison Whampoa returns to Israel with Scailex stake acquisition
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