Business Services Industry
Matav-Cable Systems Media Participates in Group Bidding to be 3rd Cellular Network Operator in Israel
Business Wire, Oct 29, 1997
NETANYA, Israel--(BUSINESS WIRE)--Oct. 29, 1997--MATAV-CABLE SYSTEMS MEDIA LTD. (NASDAQ/NM Symbol: MATVY) announced that it is part of an Operating Company which submitted a bid yesterday in a tender published by Israel's Ministry of Communications for a license to operate a third national mobile cellular telecommunications network in Israel.
The Operating Company was formed on October 24, 1997 for the purpose of bidding on this tender. Its shareholders (direct and indirect) are Matav, which holds approximately 25%, Hutchison Telecommunications Ltd. and Elbit Ltd.
Matav is a leading operator and provider of broadband Cable TV services in Israel. As one of five CATV operators in Israel, the Company operates in exclusive franchise areas which cover approximately 25% of Israel's households. The Company provides CATV services to about 25% of all CATV subscribers in Israel.
CONTACT: Lippert/Heilshorn & Associates Inc.
Jody Burfening, 212/838-3777 ext. 106
or
Matav-Cable Systems Media Ltd.
Shalom Bronstein 972 9 602 229
or Fax: 972 9 602 286
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