5 September 12 09:14–Suny Electronics Ltd. (TASE: SUNY), controlled by Ilan Ben-Dov and its subsidiary Scailex Corporation (TASE: SCIX; Pink Sheets:SCIXF) sent a letter yesterday to Hutchison and the Li Ka Shing Foundation responding to the cancellation of the deal to acquire Suny. Scailex owns 45% of mobile carrier and Orange franchisee Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR). In the letter, Suny and Scailex strenuously denied all the charges leveled against them, which were used as reasons for cancelling the deal. “Globes” reported last week that sources close to Ben-Dov were planning to send the letter.
In the letter, the companies said that the cancellation of the deal was a fundamental violation of the acquisition agreement by the purchasers and the acquisition agreement is still valid and the buyers are required to meet their commitments.
Suny and Scailex made it clear that until Hutchison retracts its cancellation of the deal, it will be responsible for the significant damage already caused by the announcement of the cancellation to the companies, the shareholders, and creditors including their bondholders and other interested parties, as well as the damage that will be caused until the cancellation announcement is retracted…Read More>>