Pelephone offers NIS 2b to buy Hot Mobile

Bezeq mobile phone unit Pelephone has submitted the offer to Patrick Drahi’s Altice International, which owns Hot.

Bezeq Israel Telecommunications Company Ltd. (TASE:BZEQ) mobile unit Pelephone has notified the Tel Aviv Stock Exchange (TASE) that it has filed an offer to Altice International, owned by Patrick Drahi, to buy Hot Mobile for NIS 2 billion.

Bezeq says that the document of intent includes a non-binding initial business outline, and if a binding agreement is signed at the end of the process, its implementation will be subject to regulatory approvals – including from the Ministry of Communications and the Israel Competition Authority Commissioner. It has previously been reported that Drahi is looking for a buyer for the company.

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Pelephone, led by CEO Ilan Sigal, is part of the Bezeq Group and a sister company to Yes, has about 2.6 million subscribers, of which more than 1.5 million are on 5G – it was the first to operate an independent 5G network. Pelephone’s biggest rival is Cellcom, which has about 3.5 million subscribers, and which last November itself led a move to cooperate with Hot – but in the television field. Two companies requested an exemption from a restrictive arrangement for this purpose, and last month the Competition Authority Commissioner issued letters to Cellcom and Hot, referring to possible harm to competition in the Internet television market.

Published by Globes, Israel business news – en.globes.co.il – on July 15, 2025.