Israel’s Bezeq mobile unit offers to buy rival from Altice for $594 million

JERUSALEM: Israeli mobile phone operator Pelephone has offered up to 2 billion shekels ($594 million) in cash to buy all of rival HOT Mobile from Patrick Drahi’s Altice International, Pelephone’s parent company Bezeq Israel Telecom said.

Bezeq said in a regulatory filing late on Tuesday in Tel Aviv that Pelephone has submitted a non-binding letter of intent and that there was no assurance it would lead to negotiations or a deal.