Sources inform "Globes" that, after the storm it has raised in the telecommunications market, the shareholders of Hallo 015 are trying to sell the company.
According to the sources, in recent weeks the company's chairman, Yoram Shechter, has approached several business people offering the company for some NIS 50 million. Shechter owns 50% of Hilat, which owns Hallo 015, and he is leading the move to sell the company. Shechter declined to comment when asked about the matter by "Globes".
Those approached about the sale were astonished to hear the asking price. Hallo 015 was described to them as selling an MVNO (mobile virtual network operator) license, in addition to its international carrier activity. The company reportedly also offered investors the possibility of coming in as partners.
The desire of its shareholders to sell the company is indicative of the tough situation in which it finds itself. Hallo 015 started out as an international calls company, but the negative sentiment towards it began when, at the end of March, it announced its intention of commencing activity as an MVNO, and offered an unprecedented package of NIS 99 a month for unlimited calls and texting.
A few days later, more and more details began to emerge indicating that there was nothing behind the sensational announcement. Hallo 015 did not succeed in getting the mobile activity off the ground, some employees began to receive salaries in arrears while others were laid off, and there were technical breakdowns. The future of the company in its present format is thus unclear.
Published by Globes [online], Israel business news - www.globes-online.com - on May 3, 2012
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