In October 2009, 012 Smile.Communications signed a definitive agreement to purchase a controlling
interest (approximately 30.6%) in Bezeq The Israel Telecommunication Corp., Israel’s largest
telecommunications provider (TASE: BZEQ) (“Bezeq”). As part of the process of attaining
required regulatory approvals for the transaction, in February 2010 012 Smile.Communications
divested its entire existing telecommunications business, selling it to a third party.
After the closing of the Bezeq transaction, 012 Smile.Communications will become a controlling company with a 30.6% share of Bezeq as its sole holding.
After the closing of the Bezeq transaction, 012 Smile.Communications will become a controlling company with a 30.6% share of Bezeq as its sole holding.