As you may recall, Chalel Communications signed an agreement with the Hungarian telecommunications company 4iG under which the Hungarian company will purchase additional shares from Chalel for an additional 20 million shekels and will thus own 20% of the company. As part of the update, which was approved by the Ministry of Communications, the Hungarian company will be able to purchase additional shares over the next three years until the allocation of 51% of Chall shares.
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In the first phase of the agreement, the Hungarian company will be allocated close to 20 million shares of the issued share capital at a price of NIS 4.7 per ordinary share. At the same time, Khalal reported at the end of August that the receiver of Eurocom Communications entered into an option agreement with Aharon Frankel to purchase 26% of the company’s issued and paid-up share capital. At a price of 4.58 shekels per share, for 29 million shekels.