Matav Examines Potential Debt Financing
20 Julio 2005 - 4:30PM
PR Newswire (US)
Matav Examines Potential Debt Financing NETANYA, Israel, July 20
/PRNewswire-FirstCall/ -- Matav-Cable Systems Media Ltd.
(NASDAQ:MATVNASDAQ:&)(TASE:MATV) announced today, further to
press reports published in Israel, that it has approached several
investment banks in order to preliminary explore the possibility of
Matav, with the other two Israeli cable operators, jointly raising
up to $800 million, through debt financing from Israeli and foreign
investors. The primary purpose of this potential debt financing
will be to partially refinance the outstanding debt of the three
cable operators. There is no assurance that such financing will be
pursued or, if it is pursued, the timing and the terms on which it
would occur. This press release is for informational purposes only,
and is not an offer to buy or the solicitation of an offer to sell
any securities of the company. About Matav Matav is one of Israel's
three cable television providers, serving roughly 25 percent of the
population. Matav's current investments include 1.2 percent of
Partner Communications Ltd., a GSM mobile phone company and 10
percent of Barak I.T.C. (1995) Ltd., one of the three international
telephony providers in Israel. This press release contains
forward-looking statements within the meaning of the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Forward-looking statements that are based on various
assumptions (some of which are beyond Matav's control) may be
identified by the use of forward-looking terminology, such as
"may", "can be", "will", "expects", "anticipates", "intends",
"believes", "projects", "potential", "are optimistic", "view" and
similar words and phrases. Actual results could differ materially
from those set forth in forward-looking statements due to a variety
of factors, including but not limited to (1) changes in technology
and market requirements, (2) decline in demand for the company's
products, (3) inability to timely develop and introduce new
technologies, products and applications, (4) loss of market share
and pressure on pricing resulting from competition, (5) uncertainty
as to the completion of acquisition of new businesses or operations
and integration thereof with Matav's business, and (6) the other
risk factors detailed in Matav's most recent annual report and
other filings with the US Securities and Exchange Commission. Matav
undertakes no obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events. DATASOURCE: Matav - Cable Systems Media Ltd. CONTACT: Ori
Gur Arieh, Counsel, Matav-Cable Systems Media Ltd., Tel.:
+972-9-860-2261. Ayelet Shiloni, Integrated Investor Relations,
Tel.: +1-866-447-8633, Tel: +972-6-883-336, .
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