Finance
Israel's Bezeq Mobile Unit Offers to Buy Rival From Altice for $594 Million
Published by Global Banking & Finance Review®
Posted on July 16, 2025
1 min readLast updated: January 22, 2026
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Pelephone proposes a $594 million acquisition of HOT Mobile from Altice, pending regulatory approval. This move could reshape Israel's telecom landscape.
Pelephone Proposes $594 Million Acquisition of HOT Mobile from Altice
JERUSALEM (Reuters) -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.
($1 = 3.3695 shekels)
(Reporting by Steven Scheer; Editing by Joe Bavier)
Key Takeaways
- •Pelephone offers $594 million for HOT Mobile.
- •Deal requires approval from Israel's competition authority.
- •HOT Mobile is a significant rival to Bezeq.
- •Altice explores selling a minority stake in HOT.
- •No assurance of negotiations or final deal.
Frequently Asked Questions about Israel's Bezeq mobile unit offers to buy rival from Altice for $594 million
1What is Pelephone's offer for HOT Mobile?
Pelephone has offered up to 2 billion shekels, equivalent to $594 million, to acquire HOT Mobile from Altice International.
2What type of agreement has Pelephone submitted?
Pelephone submitted a non-binding letter of intent regarding the acquisition, indicating that there is no assurance it will lead to negotiations or a deal.
3What approval is needed for the acquisition?
Any potential deal would require approval from Israel's competition authority, which was not immediately available for comment.
4Who owns HOT Mobile?
HOT Mobile is owned by Patrick Drahi's Altice International, which has been exploring options to sell a minority stake in the company.
5What is the significance of this acquisition in the telecom market?
The acquisition is significant as HOT Mobile is a major telecom rival to Bezeq, and it reflects ongoing consolidation in the Israeli telecom market.
