Israeli Competition Authority Approves Hot Mobile Sale Valued at 1.8 Billion Shekels
The Israeli Competition Authority has approved the sale of Hot Mobile, according to reports from Calcalist. The approval was granted to the involved companies just hours ago, marking a relatively swift decision since the deal was signed on June 30, less than a week ago. The transaction now awaits final approval from the Ministry of Communications, which has yet to conclude its review of the merger.
Under the deal, Hot Mobile was acquired from Patrick Drahi's Hot Group by a consortium including Delek Israel and Keystone Fund, each holding 40%, and Leumi Partners with a 20% stake. The purchase price is 1.2 billion shekels, reflecting an operational valuation of Hot Mobile at 1.8 billion shekels. Bank Leumi provided 700 million shekels in financing, while the partners invested 500 million shekels in equity, and the company carries 600 million shekels in debt.
Hot Mobile generates estimated revenues of 1.5 billion shekels and serves approximately 2 million subscribers. Following this transaction, Pelephone, which also competed to acquire Hot Mobile, purchased Wikum for 265 million shekels.
The same event, reported separately by each outlet. Open a few to compare what different newsrooms emphasize — and what they leave out.
Not the same event — other stories that share this one’s people, places, or theme: background, reactions, and follow-ups.