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Motorola presses Israel’s MoC to speed up MIRS sale

22 Feb 2010

The president and co-CEO of Motorola, Greg Brown, has called on the Israeli minister of communications Moshe Kahlon to expedite the sale of digital trunking operator MIRS Communications to French businessman Patrick Drahi, Globes Online reports. It is understood Mr Brown has called for the speedy resolution to the transaction so that there is no issue in concluding the deal. It had initially been expected that the deal would be closed by the end of last month, but the sale has been delayed by the structure of the sale to Drahi’s holding company Cool Holding, which also holds the controlling stake in Israeli cableco HOT Telecommunication Systems. Under existing Israeli Ministry of Communications directives Israeli partners must own at least 10% of a local communications company, and in order for Drahi to complete the MIRS purchase he either has to bring in Israeli partners, or structure the deal so that HOT acquires the iDEN operator.

Israel, HOT Mobile, HOT Telecommunication Systems, Motorola

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