Globes 16-7-2012

Rami Levy to offer int’l calls
MVNO Rami Levy Communications has acquired the Hallo 015 label.
16 July 12 13:53, Nadav Neuman

Mobile virtual network operator (MVNO) Rami Levy Communications Ltd. is expanding its services to include international calls, by jointly acquiring, with NGN Holdings Ltd., Hilat The Israel Communication Company Ltd., which operates as 015 Hallo, and which has been in financial difficulties.

The court has approved in principle the acquisition of Hilat as a going concern, with its international calls operator licenses and equipment, for NIS 1.6 million.

Rami Levy Communications will own 60% of the joint company that the two companies will set up for the purpose of the acquisition, and NGN Holdings will own 40%. NGN Holdings CEO Efi Shporn will manage the joint company.

NGN Holdings owner Moshe Maier said, “We are very pleased that Rami Levy has partnered with us in the venture to offer international calls under the Hallo 015 label. This greatly strengthens the venture’s market power and financial wherewithal.”

In a notice to the TASE, Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. (TASE:RMLI) said, “This action is part of the company’s policy to benefit its customers and offer them prime products and services at low cost, through the use of the company’s sales platform. The acquisition is subject to approval by the court and the Ministry of Communications.”

Rami Levy’s share price fell 2.3% by early afternoon to NIS 103.40, giving a market cap of NIS 1.4 billion.

Published by Globes [online], Israel business news – www.globes-online.com – on July 16, 2012