Majority stake in HOT up for sale?

16 Jan 2019

A stake of up to 75% in Israeli telecoms provider HOT Telecommunications Systems is reportedly set to be offered for sale at a cost of between ILS5 billion and ILS7 billion (USD1.4 billion-USD1.9 billion). According to Globes Online, with HOT’s ultimate parent company – Amsterdam-based Altice Europe – seeking to reduce debt while also ensuring the Israeli cableco has the necessary funds to upgrade its infrastructure, it will consider divesting the lion’s share of its equity stake in HOT.

Meanwhile, it is understood that plans are still being considered to split HOT into two, comprising a new services-focused company and a dedicated infrastructure provider. The plan was first reported last month, at which time it was revealed that HOT could also look to bring in a strategic partner to the infrastructure company with a view to enabling its network upgrade.

Israel, Altice Europe (formerly Altice Group), HOT Telecommunication Systems