B Communications Ltd. (Nasdaq and TASE: BCOM) (“B
Communications”) announced today that Bezeq - The Israel
Telecommunication Corp. Ltd. ("Bezeq"), a controlled
subsidiary of B Communications, received an approval from the "Local
Committee for Planning and Construction" for an "outline plan" for the
use of a 70 dunams (approximately 18 acres) parcel of land owned by
Bezeq which is designated for use as offices and storage building
purposes in "Sakiya", which is adjacent to the “Mesubim" Junction.
Bezeq is examining the implications of the approval and the various
possibilities which Bezeq may have in order to fully realize the value
of the property, including selling the property or portions of it.
Bezeq is also examining the accounting implications that may arise from
the determination of the property’s status and any disposition or future
action with respect to it. A possible implication, which according to a
very preliminary estimation and before professional examination, is that
Bezeq may record a very significant accounting profit.
Doron Turgeman, B Communications' CEO stated: "During the last
few years Bezeq is acting intensively in order to upgrade its property
portfolio and, in a very careful and qualitative manner, is disposing
non-essential properties. We are pleased with the Committee's approval,
and we are certain that Bezeq's management will make the right decision
with respect to this opportunity."
About B Communications Ltd.
B Communications is a holding company with a controlling interest in
Israel’s largest telecommunications provider, Bezeq, The Israel
Telecommunication Corp. (TASE: BEZQ). B Communications shares are traded
on NASDAQ and the TASE under the symbol “BCOM.” For more information
please visit the following Internet sites:
www.bcommunications.co.il
www.ir.bezeq.co.il
www.eurocom.co.il
www.igld.com
Forward-Looking Statements
This press release contains forward-looking statements that are subject
to risks and uncertainties. Factors that could cause actual results to
differ materially from these forward-looking statements include, but are
not limited to, general business conditions in the industry, changes in
the regulatory and legal compliance environments, the failure to manage
growth and other risks detailed from time to time in B Communications'
filings with the Securities Exchange Commission. These documents contain
and identify other important factors that could cause actual results to
differ materially from those contained in our projections or
forward-looking statements. Stockholders and other readers are cautioned
not to place undue reliance on these forward-looking statements, which
speak only as of the date on which they are made. We undertake no
obligation to update publicly or revise any forward-looking statement.
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