Moti Ben-Moshe plans bid for Xfone

Moti Ben-Moshe  photo: Anya Bosman

Ben-Moshe's consortium is in talks with Cellcom on a coordinated offer to be submitted today.

Mordechai (Moti) Ben-Moshe plans to submit a bid to buy mobile telephony company Xfone. Ben Moshe is the investor behind former Pelephone CEO Itzik Ben-Eliezer, who is leading the consortium that intends to file a bid this afternoon.

The consortium is in talks with Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) on submitting a bid in coordination with it, but if it fails to reach an understanding with Cellcom, Ben-Moshe intends to acquire Xfone and run it as a virtual carrier or sign a network sharing agreement with another company.

Sources inform "Globes" that Cellcom's board of directors will meet this morning to decide on the various offers. Cellcom is very close to an agreement with the Ben-Moshe consortium , but it is examining alternatives, and its board is due to decide shortly which bid to go with. The other offer on the agenda is that of Lapidoth Capital, which was revealed by "Globes".

Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) is expected to make a bid for Xfone, and its bid is apparently unconditional. Another bid, already submitted, is from Shmaya Reichman's Widely Mobile. Reichman wants to turn Xfone into a virtual carrier on Pelephone's network.

Published by Globes, Israel business news - en.globes.co.il - on September 1, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Moti Ben-Moshe  photo: Anya Bosman
Moti Ben-Moshe photo: Anya Bosman
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