Immediate Report - Hearing on planned change in marketing of the “Reverse Bundle”
Immediate Supplementary Report
Hearing on Planned Change in Marketing of the “Reverse Bundle”
Tel Aviv, Israel – March 26, 2020 – Bezeq The Israel Telecommunication Corp., Ltd. (TASE: BEZQ) (the "Company") announced today further to the Company's Report dated July 25, 2019 and the description in section 1.7.2.2 of the Chapter on the Description of the Company's Business in the Company’s 2019 Periodic Report concerning the marketing of the shared package of services of Internet infrastructure together with an ISP (“Reverse Bundle”), an Immediate Report is hereby provided.
On March 25, 2020 the Company received a letter from the Director General of the Ministry of Communications including a temporary decision concerning changing the marketing arrangements for the Reverse Bundle.
In accordance with the decision, inter alia, the need to split the Reverse Bundle after a year is cancelled, and the Company can contact customers at any time to renew the Reverse Bundle. The Company will have to offer as part of the Reverse Bundle all suppliers (including major suppliers that it had been the intention at the hearing to exclude).
It was noted in the letter that the decision was given in the period of the outbreak of the coronavirus in Israel, and accordingly the validity of the decision is limited to 3 months.
The Company is studying the decision. At the same time, the Company is of the opinion that the decision is not expected to have a material impact on its operations during the temporary period (three months, as stated).
The above information constitutes a translation of the Immediate Report published by the Company. The Hebrew version was submitted by the Company to the relevant authorities pursuant to Israeli law, and represents the binding version and the only one having legal effect. This translation was prepared for convenience purposes only.