Phoenix and More to Gain Full Control of Unlimited Fiber Project

Following previous sales by TASE, Cellcom, and HOT, the Israel Electric Corporation (IEC) is now selling its stake in the Unlimited (IBC) fiber optic project to a group of investors led by Phoenix and More Investment House. This acquisition will grant Phoenix and More full control of the venture.

According to IEC, it will sell its 30% share in Unlimited to More, Phoenix, Noy Fund, private investors, and Gil Sharon for NIS 250 million. Additionally, Unlimited will pay IEC an existing debt of NIS 115 million. A non-binding memorandum of understanding has been signed, with the parties aiming to finalize a binding agreement within the next two months.

In May 2025, Phoenix and More, along with other investors, purchased 46% of Unlimited's shares for NIS 1.04 billion from HOT and TASE. Cellcom, which initially held 23% of the project, later joined the sale, divesting its stake for NIS 520 million.

Unlimited has connected 2.6 million households to its fiber optic infrastructure and is a competitor to Bezeq, the country's largest telecommunications company.