Pelephone affords NIS 2b for Sizzling Cellular

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

Bezeq Israel Telecommunications Firm Ltd. (TASE:BZEQ) cell unit Pelephone has notified the Tel Aviv Inventory Change (TASE) that it has filed a proposal to Altice Worldwide, owned by Patrick Drahi, to purchase Sizzling 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 can 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 searching for 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 unbiased 5G community. Pelephone’s greatest rival is Cellcom, which has about 3.5 million subscribers, and which final November itself led a transfer to cooperate with Sizzling – however within the tv subject. Two firms requested an exemption from a restrictive association for this goal, and final month the Competitors Authority Commissioner issued letters to Cellcom and Sizzling, referring to attainable hurt to competitors within the Web tv market.

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