Representation of the controlling shareholder of HOT Telecommunication Systems
As part of the transaction, the controlling shareholder purchased the shares of Hot, Israel’s leading cable television company, held by the public in a reverse triangular merger. The controlling shareholder financed the purchase through the issuance of bonds to a syndicate of international banks. These transactions were the last part of the establishment of a leading telecom group in Israel, after purchasing the cellular carrier HOT Mobile (formerly Mirs) from Motorola, and gradually increasing the holdings of the controlling shareholders in HOT over the last three years. The total transaction value, including other share purchases by the controlling shareholder, was $1.1 billion.
