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Palestinian Authority extends Paltel's licences for $290 mln
December 28, 2016 / 12:59 PM / a year ago

Palestinian Authority extends Paltel's licences for $290 mln

RAMALLAH, West Bank, Dec 28 (Reuters) - The Palestinian Authority has agreed to extend Paltel Group’s cellular and fixed line licences for another 20 years at a cost of $290 million, the Palestinian telecom operator said on Wednesday.

Finance Minister Shukri Bishara of the West Bank-based Palestinian Authority said Paltel will pay half of the amount when the agreement is signed on Wednesday and the rest will be paid in four phases over two years, with a payment every six months.

Paltel’s units include Jawwal, the first mobile operator in the Palestinian territories, Hadara, its biggest internet service provider, and a fixed line provider. (Reporting by Ali Sawafta and Nidal al-Mughrabi; Editing by Elaine Hardcastle)

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