Drahi grabs MIRS Communications

11 Dec 2009

Globes Online is reporting that French businessman Patrick Drahi has successfully acquired Israeli iDEN operator MIRS Communications from its current parent Motorola Israel. The announcement comes despite recent attempts by a rival bidder, Hezi Bezalel, to up the bidding. It is understood that, with Drahi having secured exclusivity in negotiations for the deal, Motorola will sell the trunking operator to the Frenchman, who bid approximately USD170 million through Cool Holdings for the stake. It is thought that, following the purchase, Drahi may look to merge MIRS with HOT Telecommunication Systems, in which he already holds an approximate 45% stake through Cool Holdings.

Israel, HOT Mobile, HOT Telecommunication Systems