Orange’s Israeli brand licensee Partner Communications will cease to use the Orange name within 24 months, the two sides announced Tuesday. Partner had previously been expected to use the Orange name until 2025.
The new agreement stipulates that Orange will pay up to €90 million to Partner, a sizable chunk of which will be used to help Partner rebrand itself in the wake of Orange’s departure.
“The discussions were pragmatic, conducted in a positive atmosphere, and the two parties reached a mutually satisfactory agreement,” Pierre Louette, Orange’s deputy CEO, told AFP.
The announcement comes just weeks after Orange CEO Stephane Richard said he would pull the French telecom giant out of Israel “tomorrow” if he could, sparking a firestorm of criticism from Israeli and French officials.
Richard told a gathering in Cairo in early June that he would break off Orange’s relationship with Partner if it weren’t for the fact that the Israeli company would likely sue.
The CEO later claimed he was misquoted, and days later rushed to Israel for a meeting with Prime Minister Bibi Netanyahu. He told the prime minister that he did not support boycotts of Israel, that he admired Israel, and that he would invest more in the country. Read more at Times of Israel.