012 Smile.Communications to Sell its Current Telecom Business to Ampal for NIS 1.2 Billion

PETACH TIKVA, Israel, November 16 /PRNewswire-FirstCall/ -- 012 Smile.Communications (NASDAQ Global Market and TASE: SMLC), an Israeli telecommunications service provider, today announced that it has signed an agreement with a wholly owned subsidiary of Ampal-American Israel Corporation (Nasdaq: AMPL) to sell its current telecom business for NIS 1.2 billion, or approximately $318 million. The transaction is subject to customary closing conditions, including the receipt of regulatory approvals from the Israel Ministry of Communications and the Israel Antitrust Commissioner.

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