Pelephone provides NIS 2b to purchase Scorching Cellular

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Bezeq cell phone unit Pelephone has submitted the supply to Patrick Drahi’s Altice Worldwide, which owns Scorching.

Bezeq Israel Telecommunications Firm Ltd. (TASE:BZEQ) cellular unit Pelephone has notified the Tel Aviv Inventory Trade (TASE) that it has filed a proposal to Altice Worldwide, owned by Patrick Drahi, to purchase Scorching Cellular for NIS 2 billion.

Bezeq says that the doc of intent features a non-binding preliminary enterprise define, and if a binding settlement is signed on the finish of the method, its implementation will likely be topic to regulatory approvals – together with from the Ministry of Communications and the Israel Competitors Authority Commissioner. It has beforehand been reported that Drahi is in search of a purchaser for the corporate.

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Pelephone, led by CEO Ilan Sigal, is a part of the Bezeq Group and a sister firm to Sure, has about 2.6 million subscribers, of which greater than 1.5 million are on 5G – it was the primary to function an impartial 5G community. Pelephone’s largest rival is Cellcom, which has about 3.5 million subscribers, and which final November itself led a transfer to cooperate with Scorching – however within the tv subject. Two corporations requested an exemption from a restrictive association for this goal, and final month the Competitors Authority Commissioner issued letters to Cellcom and Scorching, referring to doable hurt to competitors within the Web tv market.

Printed by Globes, Israel enterprise information – en.globes.co.il – on July 15, 2025.