Altice’s HOT unit submits an offer for 100% of Partner

29 Jan 2020

Altice Europe has confirmed that its wholly-owned subsidiary HOT Telecommunication Systems has submitted an offer for 100% of the share capital of Partner Communications. No final decision has been taken, and it is uncertain that any such transaction will be concluded and under which terms, Altice says.

TeleGeography notes that 30.41% of Partner’s issued and outstanding shares and voting rights are held by its largest shareholder, S.B. Israel Telecom, an affiliate of Saban Capital Group. Meitav Dash Group is the next largest shareholder, with an 8.37% stake in Partner at that date, while the only other companies holding more than 5% are Menora Mivtachim Holdings (7.46%) and Phoenix-Excellence Group (6.56%); the remainder (47.20%) is in the hands of the public.