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Palestine Telecommunications’ comment on increasing its stake in PADICO

2013-11-19

In response to an inquiry by Palestine Capital Market Authority about increasing the shareholding ownership of Palestine Telecommunications PALTEL in Palestine Development & Investment Company PADICO; PALTEL announced in a disclosure that it has no intension in the near short run to engage into major transactions similar to the ones in the previous week when purchasing the shareholding stakes of both Palestine Investment Fund PIF and Blakeney Group. According to PALTEL, the company will announced in time purchases additional shares, and the overall ownership percentage will not exceed 20%.