Antel giving up 900MHz fixed-wireless frequencies for redistribution to cellcos

Shareholders in Israeli cableco HOT Telecommunications Systems have finally approved the acquisition of local iDEN provider MIRS Communications, Globes Online reports. With institutional investors having initially opposed proposals for the deal due to the approximately ILS1 billion (USD270 million) price tag affixed to the cellco, it is understood approval came only after the agreement was restructured. As previously reported by CommsUpdate, in July 2011 it was announced that HOT would pay MIRS shareholders ILS1.3 billion, minus the ILS257 million that MIRS owed its creditors, but under the revised terms of the acquisition it is understood that HOT will now pay ILS500 million cash and ILS450 million in future milestone payments for the cellco [More]

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