Alon Holdings Blue Square Announces Signing of an Agreement With Partner Communications Company for Launching MVNO Services
Alon Holdings Blue Square-Israel Ltd. (NYSE: BSI) announced today that further to the MOU which was signed on March 23, 2011 between Alon Cellular Ltd. controlled by the Company and Partner Communication Company Ltd., as reported by the Company on 24 March, 2011, and in connection with the Company's plans to enter the cellular communication market by becoming a Mobile Virtual Network Operator, Alon Cellular and Partner have entered into an agreement ("the Agreement"), for launching cellular services in an MVNO model, which will enable Alon Cellular to offer cellular services to end users. The launch date of such services shall be coordinated between Alon Cellular and Partner.
Under the Agreement, the payments by Alon Cellular to Partner (except for certain payments of immaterial amounts) shall be in accordance with the actual usage of traffic (i.e, calls, SMS's, MMS's and data) by Alon Cellular's end users, as elaborated in the Agreement.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.