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    BEZQ   IL0002300114

BEZEQ THE ISRAEL TELECOMMUNICATION CORP. LTD

(BEZQ)
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Bezeq Israel Telecommunication : Immediate Report - Approval of Minister of Communications for transfer of Bezeq International License to yes

07/20/2021 | 03:02am EDT
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Further to the Company's Immediate Report, dated May 26, 2021 concerning approval of the plan for structural change and section 1.1.4 of the update of the chapter containing a description of the Company's business operations in the Company's quarterly report for the period ended March 31, 2021, a supplementary immediate report is hereby provided.

On July 19, 2021 the Company received notice from the subsidiaries Bezeq International Ltd ('Bezeq International') and DBS Satellite Services (1998) Ltd ('yes') ('the Subsidiaries') that on July 19, 2021 approval of the Minister of Communications was received for the transfer of the general license of Bezeq International to yes as part of the full, statutory merger of Bezeq International with yes ('the Decision'), which was required in order to carry out the structural change plan. It was also stipulated in the approval that the company's license will be modified so that the provisions of the structural separation will also apply to the new company to which the integration business of Bezeq International will be transferred.

The Subsidiaries intend to act to implement the plan for structural change, subject to completion of a number of processes and approvals, including talks with representatives of the employees of the Subsidiaries and receipt of approval from the court required to transfer the integration business to the new company.

The Company and/or the Subsidiaries are unable at this stage to estimate the final date on which the merger and/or the structural change plan will be completed.

Yours sincerely,

'Bezeq' The Israel Telecommunication Corp Limited

The above information constitutes a translation of the Immediate Reportpublished by the Company. The Hebrew version wassubmitted by the Company tothe relevant authorities pursuant to Israeli law, and represents the bindingversion and the only onehaving legal effect. This translation was preparedfor convenience purposes only.

Disclaimer

Bezeq The Israel Telecommunication Corporation Ltd. published this content on 19 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 July 2021 07:01:02 UTC.


ę Publicnow 2021
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Financials
Sales 2021 8 769 M 2 741 M 2 741 M
Net income 2021 1 164 M 364 M 364 M
Net Debt 2021 5 989 M 1 872 M 1 872 M
P/E ratio 2021 9,12x
Yield 2021 -
Capitalization 10 730 M 3 352 M 3 354 M
EV / Sales 2021 1,91x
EV / Sales 2022 1,87x
Nbr of Employees 5 408
Free-Float 73,2%
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Mean consensus BUY
Number of Analysts 3
Last Close Price 3,88 ILS
Average target price 4,97 ILS
Spread / Average Target 28,0%
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Managers and Directors
David Mizrahi Chief Executive Officer
Tobias Fischbein Chief Financial Officer
Gil Sharon Chairman
Itzik Ben Eliezer Vice President-Information & Network Technology
Eyal Kamil Vice President-Operations & Logistics