Release Details

Immediate Report – Balance of assets in Bezeq International's books

November 9, 2020

Immediate Report – Balance of Assets in Bezeq International's Books

The Company reports that ahead of the publication by the Company and the subsidiary Bezeq International Ltd. ("Bezeq International") of their financial statements for the period ended September 30, 2020, Bezeq International found in its books unexplained balances of net assets (trade receivables less trade payables) totaling tens of millions of shekels, a significant proportion of which apparently originates in previous periods from over 15 years ago ("Balances").

The Company, Bezeq International and the Auditor CPA firm of both companies are currently in the process of examining and verifying the existence of the Balances, and it is possible that the said examination will corroborate these amounts. If the Balances cannot be ultimately accounted for, these might be written off and/or reclassified and the Company will examine the above effect on its financial statements.

 

Sincerely,

Bezeq – The Israel Telecommunication Corp. Ltd.

 

 

The above information constitutes a translation of the Immediate Report published by the Company. The Hebrew version was submitted by the Company to the relevant authorities pursuant to Israeli law, and represents the binding version and the only one having legal effect. This translation was prepared for convenience purposes only.

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