The proposal is for representatives of Merrill Lynch to carry out the relevant checks for the buyers.
Motorola Inc. (NYSE: MOT) has proposed to the Antitrust Authority a model to allow cellular operators Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL), Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR), and Pelephone Communications Ltd. access to the MIRS Communications Ltd. sale information room.
The Antitrust Authority had notified MIRS that opening its sale information room to the cellular operators could be considered restraint of trade. Motorola proposes that the cellular operators appoint external representatives on their behalf to go to the MIRS sale information room. Motorola proposes that representatives of Merrill Lynch should carry out the relevant checks for the buyers, and that it should undertake to hand over only information pertinent to the sale of MIRS.
The Antitrust Authority is reportedly amenable to the proposal, but it is unlikely to allow one of the cellular operators to buy MIRS. However, it is difficult to assess the cellular operators' interests at this time, because the entry of new competitors into the market as sought by the Ministry of Communications, may give the operators the opportunity to argue that the market is already growing and that the acquisition of MIRS by one of them will not impair competition in the cellular market.
Published by Globes [online], Israel business news - www.globes-online.com - on July 8, 2009
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