Immediate Report - Submission of a Preliminary and Non-Binding Letter of Intent to Acquire HOT Mobile Ltd
Bezeq – The Israeli Telecommunications Corp. Ltd.
(the “Company”)
Attn.
Israel Securities Authority Tel Aviv Stock Exchange Ltd.
Immediate Report - Submission of a Preliminary and Non-Binding Letter of Intent to Acquire HOT Mobile Ltd.
Holon, Israel – July 15, 2025 – Bezeq The Israeli Telecommunications Corp. Ltd. (TASE: BEZQ), announced today that its subsidiary, Pelephone Communications Ltd. (“Pelephone”), submitted a preliminary and non-binding letter of intent to acquire full ownership of HOT Mobile Ltd. ("HOT Mobile") from Altice International, for a total cash consideration of up to NIS 2 billion (subject to adjustments).
It should be clarified that this is a preliminary and non-binding letter of intent, which was submitted without prior negotiations and is based solely on partial and publicly available information1. There is no knowledge or assurance that its submission will lead to the initiation of negotiations or subsequently to discussions regarding a potential acquisition as stated. The letter of intent outlines a preliminary, non-binding, and general business framework, and is subject, among other things, to the completion of due diligence, the formulation of commercial and legal agreements between the parties, and the receipt of required approvals. It is also contingent upon maintaining the Company’s high credit rating within the AA group and its current dividend policy.
The contents of this report include forward-looking information as defined in the Securities Law, 1968, the realization of which, in whole or in part, is uncertain. This includes, among other things, the potential commencement of negotiations between the parties, the formulation of an agreement, its terms, timelines, and the necessary approvals, including those from the Ministry of Communications and the Anti-Trust Authority, as well as the completion of any transaction- all subject to the considerations outlined above.
Yours sincerely,
“Bezeq” The Israel Telecommunication Corp Limited
The above information constitutes a translation of the Immediate Report published by the Company. The Hebrew version was submitted by the Company to the relevant authorities pursuant to Israeli law and represents the binding version and the only one having legal effect. This translation was prepared for convenience purposes only.
1Based on the reports of the publicly listed company Altice International