Hungary's 4iG looks to buy controlling stake in Israel's Spacecom
Israeli satellite operator Spacecom said on Tuesday it had signed a preliminary deal to sell 51% of the company to Budapest-based 4iG for 215 million shekels ($66 million), Trend reports with reference to Reuters.
The companies signed a non-binding letter of intent with a period of exclusivity ending Aug. 15. Any deal will need regulatory approval, including from Israel's Communications Ministry.
Spacecom operates the AMOS satellite fleet made up of four communication satellites that serve Europe, Africa, the Middle East and Asia.