Partner Communications company Ltd. (NASDAQ and TASE: PTNR), an Israeli communications operator, reported that on February 20, 2020, the Minister of Communications adopted a decision regarding the update of the wholesale market tariffs, the company said.
The decision pertains to the years 2019-2022 and relates also retroactively to the years 2017-2018.
In 2017 the Ministry adopted a decision regarding the wholesale tariffs on the Bezeq network for the years 2017-2018, however the relevant regulations were updated in accordance with the decision only during 2018. As a result, over the course of a year and a half, Bezeq collected surplus payments from all service providers operating in the wholesale market.
On February 20, 2020, the Minister of Communications published a decision which retrospectively set the Final Tariffs for the years 2019 and 2020 and set the tariff update mechanism for the years 2021 and 2022. The decision also included a mechanism for the refund of the surplus payments made by the service providers to Bezeq during the years 2017 and 2018.
This decision also provides a mechanism for the refund of the surplus payments that the company made to Bezeq during the years 2017-2018 and is due to reduce also the company´s expenses for Bezeq´s wholesale services for the years 2019 and 2020 (compared to the expenses calculated according to the Interim Tariffs). The refunds for the years 2017-2019 are expected to amount to a few tens of millions of shekels and the reduction in expenses for 2020 is expected to be a few percentages.
Partner is a provider of telecommunications services (cellular, fixed-line telephony, Internet and television services). Partner´s ADSs are quoted on the NASDAQ Global Select Market™ and its shares are traded on the Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR).