African telecommunications company Liquid Telecom has made a U.S.$8 million bid to acquire Israeli company Satcom Systems Ltd., a subsidiary of the troubled Eurocom Group, and a sister company of Spacecom, the Israeli satellite communications company that operates the AMOS fleet.
According to a report published on Calcalistech.com, the bid was reported by the special managers in charge of the liquidation of Israeli holding company Eurocom Group, the parent company of Satcom Systems Ltd.. An Israeli court ordered the debt-laden company into receivership in April 2018 after it could not find a buyer.
Bezeq, Israel’s largest telecommunication company, and Israel-based satellite operator Space Communication Ltd., also known as Spacecom, are among Eurocom’s assets.
Last week Zimbabwean daily NewsDay, reported that Liquid Telecom signed a deal to acquire Zambian Hai Telecommunications Ltd. and is now awaiting approval from the Zimbabwean Regulator, Calcalistech.com reports.
The bid was made public via a filing last week to the Tel Aviv Stock Exchange.
Satcom Systems Ltd. offers its services mainly in Africa, Asia, and the Middle East.
Liquid Telecom, a subsidiary of privately-owned Econet Wireless Group, provides fiber optic, satellite, and international carrier services in eastern, central and southern Africa.
Satcom Systems Ltd., a subsidiary of the Eurocom Group, is an Israeli-based communication solutions provider that offers satellite and fiber-based connectivity solutions in Africa, Asia and the Middle East. The Company operates international teleports in Europe and the Middle East, hubs and Package on Package (PoPs) in Africa, and PoPs in Europe.
In addition, it is a shareholder in the West Indian Ocean Cable Company (WIOCC), owner of the Eastern Africa Submarine Cable System (EASSY), and in the West Africa Cable System (WACS), with undersea fiber optic cable systems connecting eastern and western Africa to the rest of the world. Satcom Systems Ltd. provides space segments over a number of satellites including Intelsat, Telesat, Hellas Sat, ABS, and SES, among others. Its customers include telecommunication companies, Internet Service Providers (ISPs), governments, enterprise customers, and international organisations.