Antitrust Authority pours cold water on Netvision HOT stake

Netvision’s purchase of a 15% stake in Israeli cablenet HOT was under threat last night after the Antitrust Authority ruled it to be anti-competitive.

In a notice posted to the Tel Aviv Stock Exchange, NetVision stressed the authority’s decision was only preliminary and that a final decision had yet to be taken. However, it admitted that the stance was forcing it to consider its position on whether the deal could be closed.

In May Netvision agreed to pay NIS 480 million for the 15% holding in HOT. Shortly afterwards the company let it be known that this was the first step towards taking control of Israel’s dominant cable operator.

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