Bank Leumi May Sell 15% of Hot To Netvision

April 2008 | Company Finance Alert

Bank Leumi Le-Israel has said that it is negotiating to sell its 15% stake in Hot Telecommunications Systems (Hot Telecom) to Israel's largest ISP, Netvision. The bank, which is Hot Telecom's third largest shareholder, has not disclosed terms of the proposed deal, such as the value of the transaction. Other shareholders in Hot Telecom include Yedioth Communications (17%), Delek Investments (16%), the Fishman Family (8%), First International Bank (5%) and Bank Hapoalim (5%).

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