Fubotv earnings beat by $0.10, revenue topped estimates
Investing.com -- Israeli mobile phone operator Pelephone has offered up to 2 billion shekels ($594 million) in cash to acquire rival HOT Mobile from Altice International, according to a regulatory filing by parent company Bezeq Israel Telecom (BCBA:TECO2m).
The non-binding letter of intent was submitted late on Tuesday, Bezeq stated in its filing to the Tel Aviv Stock Exchange. The company emphasized there is no guarantee the offer will lead to negotiations or result in a deal.
Any agreement would require approval from Israel’s competition authority, which told Reuters it would "conduct a thorough review of the deal once it is submitted for our examination."
Bezeq and HOT represent Israel’s two largest telecommunications groups, though their mobile market share trails behind industry leaders Cellcom and Partner, which each have more than 3 million subscribers.
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