Businessman Hezi Bezalel has bought Xfone 018 Communications Ltd. for $6.5 million. Bezalel recently bid for Motorola unit Mirs, and said at the time that he would consider other investments in the Israeli telecommunications market.
Today, Bezalel's Marathon Telecommunications signed a memorandum of understanding to buy Xfone 018. Xfone 018 is one of Israel's four international calls carriers, and recently became an Internet service provider.
Marathon executive Gilad Bar Lev said today, "This is an important investment with great potential. We are in advanced talks to become the first MVNO (mobile virtual network operator) in Israel. The Israeli telecommunications market is a strategic target for us and Xfone 018 is definitely not the last acquisition we will undertake."
Hezi Bezalel has been active over the past 30 years around the world, particularly in Africa, in banking, communications, and energy. He is taking steps now to move his center of operations from London to Israel.
Published by Globes [online], Israel business news - www.globes-online.com - on March 4, 2010
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