Bezeq offloads satellite interests

16 Feb 2006

Israeli telco Bezeq has agreed to sell its satellite operations to an unnamed foreign company for USD9 million. The satellite business includes stakes in the Inmarsat and Bezeq Sat systems, which offer basic data and voice transmission services primarily to naval vessels as well as uplink satellite communications services. The services are provided primarily through the Haela Valley satellite station, which Bezeq also sold recently. The deal, from which Bezeq expects to record a capital gain of around USD30 million, is currently awaiting final approval from the Ministries of Communications and Defence, as well as the anti-trust authority.