[November 22, 2009] David Sela acquires Xfone 018: Xfone Inc.'s controlling shareholders have been seeking to sell Xfone 018 for several years against the backdrop of the consolidation in Israel's telecommunications industry. Tweet Nov 22, 2009 (Globes - McClatchy-Tribune Information Services via COMTEX) -- Sources inform "Globes" that businessman David Sela acquired on Friday the controlling interest in Xfone 018 Communications Ltd. from Xfone Inc. (AMEX:XFN; TASE:XFN) for NIS 37 million. Sela confirmed to "Globes" by telephone that he had closed the deal. Texas-based Xfone Inc., controlled by chairman Abraham Keinan and CEO Guy Nissenson, sold its 69 percent stake in Xfone 018. Tadiran Telecom Ltd. has been considering acquiring 018 Xfone, but the talks never ripened into a deal. Sela markets Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR), Pelephone Communications Ltd., and 012 Smile.Communications Ltd. (Nasdaq:SMLC; TASE: SMLC) services to foreign workers. 018 Xfone is Israel's fourth international calls carrier, and recently became an Internet services provider. It targets the haredi (ultra-orthodox) community. The company has a 4 percent share of the market. Sela is apparently in talks with another Xfone 018 shareholder, Ilan Shoshani, to acquire his holding as well. Xfone Inc.'s controlling shareholders have been seeking to sell Xfone 018 for several years against the backdrop of the consolidation in Israel's telecommunications industry. They had approached Partner, Hot Cable Systems Media Ltd. (TASE: HOT), and all of Israeli's ISPs. In addition to its activity in Israel, Xfone Inc. operates in the US and UK. Xfone's share rose 5.5 percent on the American Stock Exchange on Friday to $0.96, giving a market cap of $17.6 million. The share rose 4.4 percent at the opening on the TASE today to NIS 3.95. To see more of the Globes or to subscribe to the newspaper, go to http://www.globes-online.com. Copyright (c) 2009, Globes, Tel Aviv, Israel Distributed by McClatchy-Tribune Information Services. For reprints, email [email protected], call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. [ Back To TMCnet.com's Homepage ]