Immediate report - Agreement for the sale of the subsidiary Bezeq Online Ltd.
Bezeq The Israeli Telecommunications Corp. Ltd.
(the “Company”)
November 10, 2024
Attn.
Israel Securities Authority Tel Aviv Stock Exchange Ltd.
Immediate report - Agreement for the sale of the subsidiary Bezeq Online Ltd.
An immediate report is hereby issued, whereby on November 7, 2024, the Company signed an agreement with One Software Technologies Ltd., for the sale of all of the Company’s holdings in its subsidiary Bezeq Online Ltd., for a total amount of NIS 50 million (the “Agreement”), which is subject to the adjustments in the Agreement. The Agreement is in accordance with the Group's strategy and its focus on core operations. Bezeq Online’s operations are not synergetic and are immaterial to Bezeq Group and its financial statements.
Conclusion of the transaction is subject to compliance with various preconditions, including receipt of mandatory regulatory approvals. The Company expects to recognize an accounting capital loss in an immaterial amount due to the sale of the subsidiary.
The aforesaid in this immediate report is forward-looking information as defined in the Israel Securities Law, 1968, and is based on the Company’s assumptions, according to information currently in its possession, among other things, on its assessment that the sale will be concluded as specified in this report. This forward-looking information might not materialize or could materialize differently than expected, inter alia, depending on compliance with the preconditions and receipt of mandatory approvals for the sale.
Yours sincerely,
Bezeq The Israeli 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.