Motorola says no to late MIRS bid from Rapac

According to Globes Online, Motorola Israel has chosen not to re-open the bidding for its local iDEN subsidiary MIRS Communications, and will instead move forward with the three existing bidders; mobile operator Pelephone, telco 012 Smile.Communications and businessman Patrick Drahi. Motorola has informed Rapac Communication & Infrastructure, which had expressed an interest in entering the bidding at a late stage, that it would not accept such an offer. It is thought that Pelephone, having offered some USD100 million more for MIRS than the other two bidders, remains in pole position for the sale, despite fears that the Israeli telecoms regulator and antitrust watchdog may attempt to block a deal. Motorola is understood to be gearing up for a legal challenge to such a legislative block, with the higher bid seemingly proving too tempting. However, should a Pelephone/MIRS tie-up fail to gain regulatory approval, Motorola will need to reissue its tender.