Internet Gold / 012- Golden Lines

Internet Gold today announced that it reached an agreement to acquire 60% of the control and equity in 012 Golden Lines Ltd ("012") according to a company valuation of US$140 million. Detailed agreement shall be signed by the parties within the coming days and will be subject to the approval of the Boards of Directors and the relevant regulatory authorities.
According to the agreement, following the acquisition, the companies will act to merge 012 with Smile.Communications Ltd ("Smile.Communications ") which is a wholly owned subsidiary of Internet Gold and specializes in providing internet and international communications services.

Internet Gold is one of the pioneering internet companies in Israel which acts in this market since 1996. The company is controlled by the Eurocom Communications Group which is owned by the Elovitch family. Internet Gold operates under the brand Smile and during the beginning of this year the company have reorganized its operation and separated its activities into two wholly owned specialized subsidiaries: Smile.Communications which provides internet and international communications and, along side with it, Smile.Media which specializes in internet media and advertising, e-Commerce and paid content services.

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