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    BEZQ   IL0002300114

BEZEQ THE ISRAEL TELECOMMUNICATION CORP. LTD

(BEZQ)
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Bezeq Israel Telecommunication : Immediate Report - Ruling in hearing concerning closing down old cellular technological networks and decision on extending validity of cellular frequencies

06/28/2021 EDT
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Further to the existing descriptions of (1) a hearing about closing down old cellular technological networks (2G & 3G) ('the Hearing') and (2) inventory of existing frequencies on the Pelephone network, in section 3.7.1.1 (c) and sections 3.8.2.2 and 3.8.2.3 (respectively) of the chapter containing a description of the Company's business operations in the Company's 2020 periodic report, an immediate report is hereby provided that on June 27, 2021 the Company received notification from the subsidiary Pelephone Communications Ltd ('Pelephone') concerning the ruling of the Ministry of Communications, as follows:

  1. Ruling in hearing whereby networks 2G and 3G will close down on December 31, 2025 (or an earlier date at the Company's request while complying with the stipulated terms) and setting of timetables for ceasing the import and connection to the network of devices that do not support the new technology.
  2. Ruling concerning extension of allocation of frequencies in the 850 and 2100 range in the Pelephone network until December 31, 2030. (It is hereby stipulated that the extension of the 850 frequency is subject to the existing description in section 3.8.2.3 stated above, in respect of changing frequencies within the first Giga).

As stated in section 3.7.1.1(c) cited above, Pelephone closed down the 2G network a few years ago. Pelephone will organize in accordance with ruling 1 above for closing down its 3G network, based on the timetables stipulated in the ruling. In all matters related to the extension of period of allocation of frequencies - neither the Company and/or Pelephone are able at this stage to evaluate the implications arising from the ruling.

Yours sincerely,

'Bezeq' The Israel Telecommunication Corp Limited

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.

Disclaimer

Bezeq The Israel Telecommunication Corporation Ltd. published this content on 28 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 July 2021 12:36:03 UTC.


ę Publicnow 2021
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Sales 2021 8 769 M 2 743 M 2 743 M
Net income 2021 1 164 M 364 M 364 M
Net Debt 2021 5 989 M 1 874 M 1 874 M
P/E ratio 2021 9,05x
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Nbr of Employees 5 408
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Last Close Price 3,85 ILS
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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