Partner considers acquiring Icon Group

In depth

Telecom company Partner is holding preliminary talks to acquire full ownership of Icon Group, which operates the Ai Digital store chain and is an importer of Apple products. According to Globes, the move could expand its activity in retail, import and distribution of electronics. According to 0404 News, the talks are being held with Sky Fund, the controlling shareholder, which is demanding a valuation of half a billion shekels. According to Ice, the talks are being held with the controlling shareholder Sky Fund, which is demanding a price tag of approximately NIS 500 million for the company.

According to Bizportal, after Partner reduced its debt and improved profitability, it is considering expansion through acquisitions. According to Calcalist, the telecom company reported that it is holding preliminary talks to acquire all shares of Icon Group, and Partner emphasized that no binding agreement has been signed and there is no certainty the talks will lead to a deal. Completion of the deal would require approval from the Competition Authority.