2023-12-01 10:40:00
Billionaire Aaron Frankel’s Interest in Purchasing Cellcom Causes Stir
Rumors have been circulating about billionaire Aaron Frankel’s interest in purchasing Cellcom, a leading communications company. Frankel has confirmed that he received numerous inquiries from brokers regarding the potential purchase of the company. However, as soon as he heard the asking price from DSKSH, he dropped the matter, indicating that he was only in business for at most an hour or two.
It is common practice for brokers and sellers to use the names of wealthy individuals to generate interest and attract potential buyers for transactions. In the case of Cellcom, the use of Frankel’s name is likely part of this strategy. Frankel has not ruled out the possibility of returning to talk to DSKSH about the purchase, but it all hinges on the price.
Frankel is the owner of the Lloyd’s Group, which is involved in real estate and civil aviation investments. He is also the owner of U-Vision, a company that operates in the field of drones. However, Cellcom is not Frankel’s typical investment style, as he tends to focus on liquid assets that allow for quick turnaround and profit-taking.
Following reports of Frankel’s potential interest, Cellcom’s shares jumped by 8%, but they fell by 0.8% the following day. DSKSH is reportedly seeking a deal worth NIS 2.6-2.7 billion, while Frankel indicated that he was willing to consider a price about 15% lower than this. The current share price of NIS 12.8 values the company at NIS 2.1 billion.
The outcome of the potential purchase remains unknown, but the speculation has certainly caused a stir in the business and investment community. It’s a reminder that the involvement of high-profile individuals in business transactions can have a significant impact on markets and investor sentiment.
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