Bezeq or Partner acquisition on the cards for Shaul Elovitch?

2 Jun 2009

Globes Online is reporting that the owner of the Eurocom Group, Shaul Elovitch, is holding preliminary negotiations with shareholders of both Israeli incumbent Bezeq and mobile operator Partner Communications with a view to expanding his telecoms investments; Mr Elovitch already controls fixed line and broadband operator Internet Gold and its subsidiary 012 Smile.Communications. The report also suggests that options for financing any deal are already being sought, and it is understood Bank Leumi has been approached, albeit informally, as a possible leader for a consortium of banks for such a purpose. Mr Elovitch may also consider acquiring a stake in cableco HOT –Telecommunications Systems if his bid for Bezeq or Partner (part of the Hong Kong-based Hutchison Group) fails.