Israeli mobile virtual network operator (MVNO) Rami Levi Communications is to enhance the range of services it offers, with Globes Online reporting that it is to jointly acquire international calls provider Hilat The Israel Communication Company, which operates under the 015 Hallo banner. According to the news source, with 015 Hallo facing financial difficulties, it is understood that Rami Levi Communications will partner with NGN Holdings to acquire the operator, and in-principle approval for the ILS1.6 million (USD401,000) deal has reportedly been given by a local court already.
Under the terms of the acquisition Rami Levi Communications will control of 60% of the joint company set up by it and NGN Holdings for the for the purpose of the acquisition, with the latter holding the remaining stake. Commenting on the development, in a notice to the Tel Aviv Stock Exchange (TASE), the MVNO’s parent company, Rami Levi Chain Stores Hashikma Marketing 2006 Ltd, noted: ‘This action is part of the company’s policy to benefit its customers and offer them prime products and services at low cost, through the use of the company’s sales platform. The acquisition is subject to approval by the court and the Ministry of Communications.’