UPDATE 2-Israel's Bezeq may write down up to 2.1 bln shekels in Q2 [Reuters]
BEZEQ ISRAEL TELCM UN/ADR (BZQIY)
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ir.bezeq.co.il
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Source: Reuters
Israel's Bezeq may write down up to $599 million in second quarter - Reuters 2 Min Read TEL AVIV (Reuters) - Bezeq Israel Telecom said on Sunday it may write down as much as 2.1 billion shekels ($599 million) in the second quarter from its mobile telephone and satellite TV units, sending its shares down nearly 7%. Israel’s largest telecoms group said it would write down the value of mobile unit Pelephone by 951 million shekels. Last month it had provided an initial assessment for a writedown of up to 1.1 billion shekels. In a regulatory filing in Tel Aviv, Bezeq said Pelephone’s board has approved its second-quarter results, including a 1.2 billion shekel writedown on the value of its operations. Bezeq will report second-quarter results this week. It separately said it may have to write down an additional 1.2 billion shekels for the cancellation of a deferred tax asset at satellite TV operator Yes after Israel’s securities regulator told Bezeq that conditions for the tax benefit stemm
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