Motorola Looking to Sell Israeli Mobile Network Subsidiary

It is being reported that Shamrock Holdings, the investment arm of Walt Disney Co. is looking to buy a stake in Israeli mobile network operator, MIRS Communications. The Israeli business newspaper, Globes reported that Shamrock Holdings is in preliminary talks with Motorola, who own MIRS.

The newspaper said that Motorola is seeking a deal at a company value of $300 million for MIRS, which is considered to be a premium on the mobile network's valuation.

MIRS Communications operates an iDEN network, supplied by Motorola but has been looking to switch to a 3G technology.

Israel's Ministry of Communications is currently holding a consultation to decide how to allocate a batch of unused 3G radio spectrum. The move has been prompted by a request from MIRS Communications after it was earlier blocked from bidding for WiMAX licenses.

Both companies refused to comment.

According to figures from the Mobile World database, the company ended last year with an estimated 441,000 subscribers - representing a market share of just under 5%.

On the web: Globes - Mobile World

Posted to the site on 8th June 2009