We also remain focused on long-term needs for the company. As part of these measures, we’re going to intend – we’re going to invest in improving the network and invest in IT systems.
Regarding 012 Smile, we continue to work toward maximizing the synergy between the two companies. At the same time, we are beginning to integrate carefully measure or partner with – or – into Smile. Our vision remains one of which Partner as a group offers the customer wide array of service in areas of cellular and fixed telephony.
Okay. With that said, I would now like to hand the call over to Ziv Leitman, our CFO.
Ziv LeitmanThank you, Haim. As Haim said, our results continue to reflect the impact of the reduction in interconnect tariff and strengthened competition in the cellular market. Cellular service revenue decreased by 25% from ILS 1.4 billion in the third quarter of 2010 to ILS 1.1 billion in the third quarter of 2011. This decrease mainly reflects the reduction in interconnect tariff effective January 1, 2011, which reduced cellular service revenue in the quarter by approximately ILS 282 million. Excluding the impact of the reduction in intercompany tariff, service revenue would have decreased by 5%, reflecting ongoing price erosion and ILS 26 million of one-time provision made in the quarter for lawsuits filed against the company. Read the rest of this transcript for free on seekingalpha.com
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