Delek Israel eyes Hot Mobile acquisition

Delek Israel, controlled by Lahav L.R. Real Estate (TASE: LAHV) and Uri Mantzur, is interested in buying Hot Mobile. Delek Israel joins Bezeq mobile phone unit Pelephone, which has even signed a memorandum of understanding to buy Hot Mobile for NIS 2.1 billion and a consortium headed by Gil Sharon, which has reportedly bid NIS 1.4 billion. Partner, has meanwhile offered to buy Hot Mobile’s business customers.

Pelephone signs MOU for acquisition of Hot Mobile

Delek Israel operates gas stations and a chain of convenience stores around Israel, from which it spun off Delek Israel Properties (TASE: DLPR), which had a valuation of NIS 913 million at its IPO. Last summer. Delek Israel sought to expand and build additional substantial consumer activity and reportedly competed for the acquisition of control of Shufersal. and in the tender to purchase the post office but did not win either. Lahav L.R., which is the parent company of Delek Properties, is traded at a market cap of nearly NIS 2.4 billion.

The company identifies a synergistic opportunity in Hot Mobile and the communications industry. It would be able to sell end equipment such as cellular devices in its convenience store chain, which has 220 stores, and will also be able to leverage its loyalty club activity.

At this stage, no official offer has been made by Delek Israel to Hot, but the company has entered the information room that Hot set up for the sale and is reviewing the information with its advisors. It will likely be able to submit an offer in the price range that other parties have offered to Hot. Although the highest offer at this stage came from Pelephone, many in the market believe that it will have difficulty obtaining regulatory approval for a merger with a major market rival. At this stage, a potential acquisition of Hot Mobile by Delek Israel may be carried out exclusively by it, but it may choose to do so with strategic partners.

Published by Globes, Israel business news – en.globes.co.il – on January 4, 2026.

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