Shamrock holds off on MIRS bid

27 Jul 2009

Shamrock Holdings, the investment arm of the Walt Disney company, has ruled out a bid for MIRS Communications at the present time, Globes Online reports; the deadline for submission of non-binding bids for the iDEN operator was last Thursday. It is understood that Shamrock will first wait to examine developments in the market following the sale of Partner Communications, which was put on the block by owner Hutchison Whampoa earlier this month. Shamrock is not expected to bid for Partner however, with the value placed on the cellco by Hutchison thought to have also put off interest from investment funds Providence and Cerberus. Israeli cableco HOT Telecommunication Systems is still believed to have an interest in MIRS, while 012 Smile.Communications is also reported to have submitted a bid. The sale of MIRS is not expected to be completed until after any deal for Partner is completed, according to Merill Lynch which is handling the sale process for the former, as many potential buyers are interested in both operators.

Israel, HOT Mobile, HOT Telecommunication Systems, Internet Gold (012 Smile Communications), Partner Communications Company