Drahi closing in on MIRS acquisition

2 Dec 2009

According to Middle East news source Globes Online, French businessman Patrick Drahi is closing in on the acquisition of Israeli iDEN operator MIRS Communications. Citing local sources, the report claims that, having improved its bid to USD165 million, cableco HOT Telecommunication Systems, in which Drahi holds an approximate 45% stake, has exchanged a draft contract with MIRS’ parent Motorola Israel. However, it s understood that Israeli businessman Hezi Bezalel has not given up on acquiring the trunking operator, and it is thought he may look to make a last-minute improvement to his own existing bid. It also appears that, despite incumbent Bezeq having submitted the highest bid for MIRS through its mobile subsidiary Pelephone, Motorola Israel has concluded that such a deal is unlikely to gain regulatory approval, and as such will now focus on offers from other parties.

Israel, HOT Mobile, HOT Telecommunication Systems, Pelephone