The takeover of Israeli cellco Mirs by cable operator HOT is going ahead, according to media reports. HOT will pay ILS 1.3bn shekel (US$378m) for the mobile phone company in a deal that is financed with a bank credit.
Both companies are already owned by…
The takeover of Israeli cellco Mirs by cable operator HOT is going ahead, according to media reports. HOT will pay ILS 1.3bn shekel (US$378m) for the mobile phone company in a deal that is financed with a bank credit.
Both companies are already owned by French businessman Patrick Drahi, the reports pointed out, but the integration will enable HOT to diversify and offer a wider range of telecommunication services to its customers.
Mirs is the smallest out of four mobile phone operators in Israel, with a reported market share of less than 5%. Other operators are Cellcom Israle, Bezeq Israel Telecom’s mobile arm Pelephone, and Partner Communications.
The transaction requires regulatory approval.
