Immediate Report – Submission of an Updated, 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 an Updated, Non-Binding Letter of Intent to Acquire HOT Mobile Ltd
Holon, Israel – November 11, 2025 – Bezeq The Israeli Telecommunications Corp. Ltd. (the "Company") (TASE: BEZQ), announced today that further to the Company’s Immediate Report dated July 15, 2025, stating that the Company’s subsidiary, Pelephone Communications Ltd. (“Pelephone”), had submitted an initial, non-binding Letter of Intent (the “Letter of Intent”) to Altice International Group, offering to acquire for cash the entire ownership interest in HOT Mobile Ltd. (“HOT Mobile”) for a total consideration of up to NIS 2 billion (subject to adjustments), and further to the update in the Company’s Q3 2025 Report to section 3.18 of the Company’s 2024 Periodic Report, regarding certain contacts to explore the possibility of such acquisition, an immediate report is hereby provided that Pelephone today submitted an updated, non-binding, time-limited Letter of Intent to acquire for cash the entire ownership interest in HOT Mobile, for a total consideration of up to NIS 2.1 billion (subject to adjustments).
The updated Letter of Intent was submitted following preliminary discussions, and there is no knowledge or certainty that its submission will lead to further negotiations regarding a potential acquisition. The updated Letter of Intent outlines an initial, non-binding business framework, subject to, inter alia, due diligence, the formulation of commercial and legal agreements between the parties, and the receipt of necessary approvals, as well as maintaining the Company’s high credit rating within the AA group and its current dividend policy. It should be noted that the updated Letter of Intent will remain valid until Sunday, November 16, 2025.
The information included in this report constitutes forward-looking information, as defined in the Israeli Securities Law, 1968, the realization of which is uncertain, in whole or in part, including with respect to the continuation of negotiations between the parties, the execution of any binding agreement, its terms, timetable, required approvals (including those of the Ministry of Communications and the Anti-Trust Authority), and the completion of any transaction, for the reasons detailed 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.