Long-running cable merger makes progress

22 Feb 2006

Matav Cable Systems, the Fishman Group, the Yediot Telecoms Group and the shareholders of Tevel have agreed the main principles of a planned merger of Israel’s three main cablecos to form HOT. Under the terms of the agreement, Matav will purchase the operations of Golden Channels and Tevel and issue shares in the enlarged company. Tevel, which has around 125,000 subscribers, is expected to be valued at USD1.68 million, giving its shareholders around 30% of the merged company.

Israel, HOT Telecommunication Systems