Wireless Telecommunication Services
Company Overview of HOT Mobile Ltd.
HOT Mobile Ltd. provides integrated wireless cellular communication services in Israel. It offers services, including dispatch two way radio, mobile intranet and Internet services, SMS, GPS, speaker phone, multimedia, roaming services, photo transmission from handset to handset, police speed trap warning based on GPS, personal information transmission using Vcard, multimedia handset with stills and video films, video graphics adapter camera, and media mail applications. HOT Mobile Ltd. was formerly known as MIRS Communications, Ltd. and changed its name to HOT Mobile Ltd. in May 2012. The company was founded in 1994 and is based in Tel Aviv, Israel. As of December 2011, HOT Mobile Ltd. opera...
3 Totzeret Ha'aretz Street
Tel Aviv, 67891
Founded in 1994
Key Executives for HOT Mobile Ltd.
General Manager and Vice President
Deputy General Manager of Operations
Compensation as of Fiscal Year 2016.
HOT Mobile Ltd. Key Developments
Two Companies Are Showing Interest In Golan
Sep 12 16
Golan Telecom Ltd. which is up for sale, says there are two companies showing strong interest in proceeding with a deal, one backed by former Pelephone Communications Chief Executive Officer Gil Sharon and the other by 018 Xfone owner Hezi Bezalel. Both groups have reportedly contacted Rothschild Bank AG, which is handling the sale. It is understood that the two groups had suggested teaming up to buy Golan but have since decided to go it alone. Furthermore, HOT Mobile Ltd. has also shown interest in buying the company, but such a move faces an uphill task if it is to gain regulatory approval, a report from Globes Online suggests.
Hot Mobile Announces Earnings Results for the Second Quarter of 2016
Aug 9 16
Hot Mobile announced earnings results for the second quarter of 2016. For the quarter, the company reported that although its subscriber base rose to more than 1.335 million and its churn rate fell to 37%, it posted an operating loss of ILS 86 million. Despite the operating losses, Hot Mobile continues the momentum of subscriber recruitment, adding 45,000 in the second quarter. Revenue grew by 11% in comparison with the corresponding quarter, to ILS 251 million.
Cellcom Israel Ltd. Announces Development Re Negotiations and Agreements with Golan Telecom Following Re Hosting Agreement Between Golan Telecom and Hot Mobile Ltd
Jun 13 16
Cellcom Israel Ltd. has taken note that the Hot Mobile Ltd. announced a non-exclusive long term agreement for the provision of hosting services to Golan Telecom on the network used by Hot, and financing arrangements to be provided by Hot and its controlling shareholders, subject to the Israeli regulators' approval and instructions. The company has notified Golan Telecom and its shareholders that the Hot agreement constitutes material breaches of the share purchase agreement (SPA) and national roaming agreement (NRA) between the company and Golan Telecom, including a service exclusivity obligation and obligations not to materially change the business to be purchased. The company further notified Golan Telecom and its shareholders that the breach of the SPA and the breach of the NRA (resulting with the transfer of any Golan's customers traffic on Hot's network), if not cured, would allow the company to terminate the SPA and demand the immediate payment of the ILS 600 million + VAT National Roaming Gap (as defined in the SPA), demand the recovery of additional substantial discounts provided to Golan Telecom under the NRA and conditioned upon such exclusivity, which under preliminary calculations amount to approximately ILS 300 million, and demand compensation for future payments until the end of such exclusivity. The company notified Golan Telecom and its shareholders that should Golan Telecom and its shareholders fail to remedy all such breaches within the time frame set in the agreement, the company will take all actions available to it under the SPA, NRA and applicable law, against them. The company cannot estimate the chances of regulatory approval of the Hot Agreement, or its impact on Cellcom's ability to collect amounts owed by Golan Telecom or to generate future revenues from Golan Telecom. A substantial reduction of the future revenues from Golan Telecom will have a material adverse effect on the company's revenues and results of operations.
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