The Communications Infrastructure Company (IBC) has signed a financing agreement in the amount of about half a billion shekels with the company
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, Which will be used to accelerate the deployment of the company’s fiber optic network in Israel. IBC provides Internet infrastructure services to communications companies, including Cellcom, HOT, Expon, Internet, Rimon, Telzer and more. As you may recall, last week it was reported that an agreement had been signed with Partner for the use of the company’s fiber network.
This financing agreement joins an earlier loan agreement with Migdal, which, together with the current agreement, will reach a total amount of approximately NIS 700 million. The agreement will allow IBC to continue to establish its position as a wholesale company that continues to deploy new infrastructure and develop its advanced fiber optic network.
The IBC infrastructure currently reaches about 730,000 households in 60 localities throughout the country, from Kiryat Shmona in the north to Eilat in the south. The company is owned by Cellcom, HOT, Keren Tashi and the Electric Company.
CEO of Unlimited (IBC), Amir Levy: “The agreement indicates the great trust of Migdal and the capital market in IBC Unlimited. The loan will be used by the company to finance the acceleration of the deployment of its fiber network, which is currently used by the major players in the industry – HOT, Cellcom, Partner and more. A real monopoly, which consumers will enjoy. ”
Erez Migdali, Acting Director of the Investment Division at Migdal Insurance: “Financing the fiber deployment activity is a significant part of the company’s strategy to increase its involvement in the development and construction of advanced digital infrastructure in Israel and abroad, as part of which Migdal invests in server farms (data centers) in the US and Europe and other projects in these worlds.”
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