HOT to merge with MIRS in Israel

May 3, 2010 - PRLog -- After receiving approval from Antitrust Commissioner Ronit Kan two weeks ago, French businessman Patrick Drahi will soon receive an official permission from the Communications Ministry to complete his $170 million purchase of the controlling share of MIRS, Israel’s fourth and smallest cell phone operator, from Motorola. Once the takeover is complete, Patrick Drahi intends to merge MIRS with HOT Cable Company in which he controls 45%. The merger will help HOT to expand its present triple play packages to include four products: cellular services, television, telephone and internet, which explains why HOT has not applied for a licence as a virtual cellular operator.

According to Haaretz, HOT is now pressuring the ministry to finish its examination and approve the deal as soon as possible. Communications Minister Moshe Kahlon even held a meeting to discuss the matter a week and a half ago, with Drahi and HOT CEO Herzl Ozer present who explained to Kahlon how the proposed merger would improve competition in the communications industry.

If the merger is approved, Drahi will control a group of communications companies in the four major areas of the industry: multi channel television, cellular and landline telephony and an internet service provider similar to Bezeq, his main competitor.

www.dataxisnews.com

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