Israeli incumbent Bezeq is looking to raise ILS1.5bn (US$418.5m) in the form of long-term credit, CFO Alan Gelman told investors today.
The company has secured a “one-year commitment” from an unspecified Israeli bank, he was cited saying by…
Israeli incumbent Bezeq is looking to raise ILS1.5bn (US$418.5m) in the form of long-term credit, CFO Alan Gelman told investors today.
The company has secured a “one-year commitment” from an unspecified Israeli bank, he was cited saying by Reuters.
Announcing the company’s Q4 results, he said that net profit had risen to ILS575m (US$157m) from ILS366m during the same period last year, while revenue was up 4.3% to ILS3.1bn. EBITDA, meanwhile, skyrocketed 48% to ILS1.3bn.
Gelman was quoted saying that net profit and EBITDA would remain largely unchanged for 2011, despite a forecast drop in revenue resulting from the government’s decision to cut interconnection rates as part of its drive to increase competition in the sector.
The Ministry of Communications is to issue two new mobile licences, and is now allowing MVNOs to operate.
