Latest news with #Bezeq
Reuters
16-07-2025
- Business
- Reuters
Israel's Bezeq to buy local telecoms firm for $160 million
JERUSALEM, July 14 (Reuters) - Bezeq Israel Telecom ( opens new tab said on Monday it had signed a non-binding deal to buy Exelera Telecom for $160 million. Bezeq, Israel's largest telecoms group, said that under the memorandum of understanding, it would buy Exelera from the Aluma Fund ( opens new tab, which holds 82% of the company's shares, and the rest from Ayalon Insurance and Finance ( opens new tab. The sellers may be entitled to additional consideration of up to $10 million, subject to the fulfilment of certain conditions detailed in the MoU, Bezeq said. Completion is subject to the signing of a definitive binding agreement 75 days from the date of the MoU, during which Bezeq will conduct due diligence. The deal also would require regulatory and other approvals. Israel-based Exelera, formerly Tamares Telecom, provides telecoms services via an international telecommunications network based on a fiber-optic submarine cable, and operates a landing station in Israel. Aluma CEO Yair Hirsh said the deal would represent a threefold return on its investment in Exelera. Bezeq said it was currently evaluating a series of business initiatives in light of global trends indicating a dramatic increase in digital traffic volumes both into Israel and along the route between Europe and the Near and Far East. It noted those developments are driven in part by the growing presence of major data and cloud players in Israel and the wider region. "Bezeq will continue working to enhance the independence of Israel's telecommunications infrastructure and deepen competition in the market."
Time of India
16-07-2025
- Business
- Time of India
Israel's Bezeq mobile unit offers to buy rival from Altice for $594 million
JERUSALEM: Israeli mobile phone operator Pelephone has offered up to 2 billion shekels ($594 million) in cash to buy all of rival HOT Mobile from Patrick Drahi's Altice International , Pelephone's parent company Bezeq Israel Telecom said. Bezeq said in a regulatory filing late on Tuesday in Tel Aviv that Pelephone has submitted a non-binding letter of intent and that there was no assurance it would lead to negotiations or a deal. Any deal would need approval from Israel's competition authority, which was not immediately available for comment. HOT Mobile was also not available for comment. Israeli media have reported that Altice has been exploring options to sell a minority stake in cable company HOT, a significant telecoms rival to Bezeq.
Time of India
15-07-2025
- Business
- Time of India
Israel's Bezeq to buy local telecoms firm for $160 million
By Steven Scheer JERUSALEM: Bezeq Israel Telecom said on Monday it had signed a non-binding deal to buy Exelera Telecom for $160 million. Bezeq, Israel's largest telecoms group, said that under the memorandum of understanding, it would buy Exelera from the Aluma Fund , which holds 82% of the company's shares, and the rest from Ayalon Insurance and Finance. The sellers may be entitled to additional consideration of up to $10 million, subject to the fulfilment of certain conditions detailed in the MoU, Bezeq said. Completion is subject to the signing of a definitive binding agreement 75 days from the date of the MoU, during which Bezeq will conduct due diligence. The deal also would require regulatory and other approvals. Israel-based Exelera, formerly Tamares Telecom, provides telecoms services via an international telecommunications network based on a fiber-optic submarine cable, and operates a landing station in Israel. Aluma CEO Yair Hirsh said the deal would represent a threefold return on its investment in Exelera. Bezeq said it was currently evaluating a series of business initiatives in light of global trends indicating a dramatic increase in digital traffic volumes both into Israel and along the route between Europe and the Near and Far East. It noted those developments are driven in part by the growing presence of major data and cloud players in Israel and the wider region. "Bezeq will continue working to enhance the independence of Israel's telecommunications infrastructure and deepen competition in the market."
Zawya
15-07-2025
- Business
- Zawya
Mideast factors to watch on July 15
Here are some factors that may affect Middle East stock markets on Tuesday. Reuters has not verified the press reports and does not vouch for their accuracy. INTERNATIONAL/REGIONAL * GLOBAL MARKETS-Asian shares rise, dollar strengthens ahead of US earnings; JGB yields surge * Oil falls as Trump's 50-day deadline for Russia eases supply fears * PRECIOUS-Gold ticks higher with focus on US inflation data * MIDEAST STOCKS-Gulf stocks subdued as Trump steps up tariff threats * Israeli ultra-Orthodox party leaves government over conscription bill * OPEC projects 'very strong' third-quarter oil demand, followed by tight balance, RIA reports ISRAEL * Clerics accuse West Bank settlers of attacking Christian sites * Gazans' daily struggle for water after deadly strike * Israel's Bezeq to buy local telecoms firm for $160 million * Netanyahu aide faces indictment over Gaza leak SAUDI ARABIA * BRIEF-Mubadala Announces Significant Reinvestment In PCI Pharma Services * Rescued crew of Greek ship sunk by Houthis taken to Saudi Arabia UNITED ARAB EMIRATES * UAE lender ADCB reports 11% jump in second-quarter profit * Wizz Air pulls out of Abu Dhabi as instability wipes out hope of Middle East profits * BRIEF-Etihad H1 Passengers At 10.2 Million IRAQ * Two drones fall in Khurmala oilfield in Iraqi Kurdistan, counter-terrorism service says SUDAN * Sudanese RSF forces kill almost 300 in North Kordofan, activists say SYRIA * Attacks on Syrian security forces sent to quell sectarian clashes leave 18 dead as Israel strikes targets to protect Druze IRAN * Iranian lawmaker says Strait of Hormuz still under review, no decision yet to close it * Blast caused by gas leak injures 7 in Iranian city of Qom * Iran says it will respond to reimposition of UN sanctions LIBYA * More than 100 migrants freed in Libya after being held captive by gang, officials say (Compiled by Bangalore newsroom)
Yahoo
14-07-2025
- Business
- Yahoo
Israel's Bezeq to buy local telecoms firm for $160 million
By Steven Scheer JERUSALEM (Reuters) -Bezeq Israel Telecom said on Monday it had signed a non-binding deal to buy Exelera Telecom for $160 million. Bezeq, Israel's largest telecoms group, said that under the memorandum of understanding, it would buy Exelera from the Aluma Fund, which holds 82% of the company's shares, and the rest from Ayalon Insurance and Finance. The sellers may be entitled to additional consideration of up to $10 million, subject to the fulfilment of certain conditions detailed in the MoU, Bezeq said. Completion is subject to the signing of a definitive binding agreement 75 days from the date of the MoU, during which Bezeq will conduct due diligence. The deal also would require regulatory and other approvals. Israel-based Exelera, formerly Tamares Telecom, provides telecoms services via an international telecommunications network based on a fiber-optic submarine cable, and operates a landing station in Israel. Aluma CEO Yair Hirsh said the deal would represent a threefold return on its investment in Exelera. Bezeq said it was currently evaluating a series of business initiatives in light of global trends indicating a dramatic increase in digital traffic volumes both into Israel and along the route between Europe and the Near and Far East. It noted those developments are driven in part by the growing presence of major data and cloud players in Israel and the wider region. "Bezeq will continue working to enhance the independence of Israel's telecommunications infrastructure and deepen competition in the market." Sign in to access your portfolio
