Rapac plans late bid for MIRS

7 Oct 2009

With both Partner Communications and Cellcom having withdrawn from the race to acquire Motorola Israel’s iDEN subsidiary, MIRS Communications, Globes Online is reporting that a new potential bidder is set to enter the fray. Rapac Communication & Infrastructure, a holding company with two core businesses – electricity grids and communication infrastructure – is understood to have asked Merrill Lynch, which is handling the sale, to submit a late bid. With talks between MIRS and those bidders who successfully passed the first stage of bidding yet to begin, it is believed that such an offer may still be accepted. Rapac had initially indicated an interest in MIRS when the sale was first announced, but opted not to participate in the tender in the belief that it would not be able to outbid the likes of Partner and Cellcom.

Israel, HOT Mobile