July 30, 2016 1:30 AM ET

Wireless Telecommunication Services

Company Overview of HOT Mobile Ltd.

Company Overview

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

Israel

Founded in 1994

Phone:

972 3 5658 4343

Fax:

972 3 609 4588

Key Executives for HOT Mobile Ltd.

Chief Executive Officer
Chief Financial Officer
General Manager and Vice President
Manager
Deputy General Manager of Operations
Compensation as of Fiscal Year 2016.

HOT Mobile Ltd. Key Developments

Cellcom Israel Ltd. Announces Development Re Negotiations and Agreements with Golan Telecom Following Re Hosting Agreement Between Golan Telecom and Hot Mobile Ltd

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.

Investors Reportedly Eyes Stake In Golan

The sale process for Golan Telecom Ltd. is gaining momentum. Sources inform "Globes" that three other Israeli operators have expressed interest by entering the company's information room: Cellcom Israel Ltd. (TASE:CEL), Pelephone Communications LTD. and HOT Mobile Ltd., Partner Communications Company Ltd. (NasdaqGS:PTNR) has decided not to be a part of the process. Some market sources also believe that Xfone owner Hezi Bezalel is also interested in buying Golan. As part of the process, companies interested in acquiring Golan Telecom have been asked to appoint a 'clean team" of external advisors, that are not employees, as a requirement before entering the information room. The interested parties appointed teams comprising lawyers, economists, and consultants to check out the information and present their conclusions. Golan is swapping drafts with lawyers and the target is for bids to be made by the end of the month.

Partner Communications Announces Network Sharing Agreement with HOT Mobile Ltd

Partner Communications Company announced that Israeli regulators approved the company's network sharing agreement with HOT Mobile Ltd. The shared cellular network of Partner and Hot Mobile will be operated through a joint venture to optimize its shared network sites, and improve coverage and capacity.

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Recent Private Companies Transactions

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No transactions available in the past 12 months.
 

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