Israeli handset distributor Scailex has made an undisclosed binding offer for Hutchison Telecommunications International’s majority stake (51 percent) in Partner, Israel’s second-largest mobile phone operator. “The Company emphasises that it does not know under what timetables the sale proceeding shall continue, and that there is no certainty that the seller of the controlling stake will decide to open negotiations with the Company, that it will reach agreements with the seller in relation to the terms of the transaction, or that the Company shall acquire the control as stated above,” it noted in a statement.

Hong Kong conglomerate Hutchison Whampoa, which controls Hutchison Telecommunications, said last month it wanted to sell its stake in Partner, whose market value is ILS10.7 billion (US$2.7 billion). Scailex said in July it was in talks with a third party to issue securities to fund a possible purchase. At the time it said should this happen, Suny Electronics, which controls Scailex, would lose its majority share. Globes today reports that Scailex is competing only with the Eurocom Group for the stake after Permira Advisors withdrew last week. A decision on the winner could come as soon as tomorrow, and may reportedly involve Hutchison providing up to several hundred millions of shekels in financing to the buyer. Partner operates in Israel under the Orange brand name and has 2.9 million connections (a 31 percent market share), according to Wireless Intelligence.