ROSH HA’AYIN, Israel, December 22, 2022 /PRNewswire/ — Partner Communications Company Ltd. (“Partner” or “the Company”) PT NO PT NOa leading Israeli communications provider, announced today that on December 21, 2022 between the Company and Bezeq – the Israel Telecommunication Corp. ltd (“label” and “The agreement“), regarding the purchase of a non-appealable and irrevocable right of use (IRU) for 15 years of 120,000 unspecified fiber optic infrastructure lines in buildings connected to Bezeq’s fiber optic infrastructure (“The first agreement period” and “fiber optic lines“).

According to the contract, the right to use the fiber optic lines is granted in 5 equal annual installments, with the first installment beginning on January 1, 2023. The total consideration that Bezeq Company will pay for the right of use under the Agreement is approximate 574 million shekels plus VAT for the first contract term (“the consideration”) to be divided into five equal installments (according to the installment dates above) to be paid at the beginning of each calendar year of the years 2023 to 2027, plus half of the linking differences, and all subject to the terms set out in the Agreement (“The installment amount“). The Company has the option to spread each installment amount over a five-year period, with interest added at a rate equal to Bezeq’s NIS bond yield at the relevant average maturity, which will be known at the time the fiber optic lines are licensed for this rate.

The company will also pay annual maintenance fees equal to 4% of the consideration plus link differences under the terms of the agreement for all fiber lines that the company has been granted a right to use up to that year.

The Company has been granted an option to acquire the right to use 48,000 additional fiber optic lines as part of…