Phoenix and More Acquire Israel Electric Corporation's Stake in Unlimited

The Israel Electric Corporation is selling its 30% stake in the fiber optic infrastructure company Unlimited (formerly IBC) to a group of investors led by Phoenix and More Investment House. This acquisition will bring the total ownership of Unlimited to Phoenix and More. The deal is valued at NIS 250 million, with Unlimited also paying an existing debt of NIS 115 million to the Electric Corporation. A non-binding memorandum of understanding has been signed, and the parties aim to finalize a binding agreement within the next two months.

This move follows previous sales by other major shareholders. In May 2025, Phoenix and More, along with other investors, purchased a 46% stake in Unlimited from HOT and TASEI for NIS 1.04 billion. Cellcom, which initially held 23%, later sold its share for NIS 520 million.

Unlimited has connected 2.6 million households to its fiber optic network and competes with Bezeq. Doron Arbeli, Chairman of the Israel Electric Corporation, stated that the sale reflects sound business judgment and financial responsibility. He emphasized the Electric Corporation's significant role in advancing the national deployment of fiber optics in Israel.