B Communications Reports Financial Results For the First Quarter of 2017
B COMMUNICATIONS (BCOM)
US:NASDAQ Investor Relations:
bcommunications.co.il/investor-relations/financial-reports
Company Research
Source: PR Newswire
RAMAT GAN, Israel, May 18, 2017 /PRNewswire/ -- B Communications Ltd. (Nasdaq-GM: BCOM; TASE: BCOM), a holding company with a controlling interest in Israel's largest telecommunications provider, Bezeq, The Israel Telecommunication Corporation Ltd. (TASE: BEZQ), today reported its financial results for the first quarter of 2017. "We are very pleased with the results of the first quarter of 2017 in which Bezeq achieved net income of NIS 350 million ($96 million), which is on target with its annual net income guidance of NIS 1.4 billion ($385 million) for 2017. In addition, our new debt structure allows us to significantly reduce our finance expenses from NIS 90 million during the first quarter of 2016 to only NIS 30 million ($8 million) in the first quarter of 2017" said Doron Turgeman, CEO of B Communications. Private Placement of Series C Debentures: On January 11, 2017, the Company completed a private placement of NIS 118 million par value of its Series C Debentures to Israeli inst
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