Leumi Intl Invs. - Negotiations regarding Hot

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Thu Apr 17, 2008 9:49am EDT 

RNS Number:5860S
Leumi International Investments NV
17 April 2008


                            BANK LEUMI LE-ISRAEL B.M.
                                        
                                        
                                        -
                                        
                  (GUARANTOR - GUARANTEED EURO MEDIUM TERM NOTE
                                        
               PROGRAMME OF LEUMI INTERNATIONAL INVESTMENTS N.V.)
                                        
                                        
                        Translation of Immediate Report
                                        
                                        
                            Bank Leumi le-Israel B.M.
                                        
                           Registration No. 520018078
                                        
    Securities of the Corporation are listed on The Tel Aviv Stock Exchange
                                        
                            Abbreviated Name: Leumi
                                        
              Leumi House, 34 Yehuda Halevi Street, Tel Aviv 65546
                                        
      Phone: + 972 3 5148111, + 972 3 5149419; Facsimile: + 972 3 5149732
                                        
                      Electronic Mail: jennifer@bll.co.il
                                        
                                        

                                                                   17 April 2008


To: Israel Securities Authority (www.isa.gov.il)
    The Tel Aviv Stock Exchange (www.tase.co.il)


                                Immediate Report
                                        
            Nature of the Event: Negotiations regarding Shares of Hot


Further to the Immediate Report of yesterday, 16 April 2008, Bank Leumi
le-Israel B.M. (the "Bank") announces that today, 17 April 2008, Netvision Ltd.
("Netvision") delivered to the Bank an offer, valid for a limited period of
time, for the purchase of shares of Hot - Communications Systems Ltd. ("Hot")
held by the Bank (some 15% of the issued and paid-up share capital of Hot).


The Bank has undertaken to Netvision that, for the limited period during which
the offer is valid, it will negotiate exclusively with Netvision regarding the
sale of the said shares.


The Bank has not yet agreed to accept the offer, the acceptance being subject,
inter alia, to the approval of the Board of Directors of the Bank.


Should the Bank accept the offer, completion of the transaction will be
dependent on the following conditions: (a) waiver or non-exercise of first
refusal rights regarding the purchase of the shares being sold by the
shareholders of Hot who are entitled thereto; (b) receipt of all legally
required permits for the purchase of the shares being sold, including the
approval of the Ministry of Communication and the Council for Cable and
Satellite Transmissions, to the extent that same are required.



Date and time at which the corporation first became aware of the event or
matter:

17 April 2008 at 15:00.
________________________________________________________________
Name of Electronic Reporter: Jennifer Janes, Position: Executive Vice President,
Group Secretary
POB 2 Tel Aviv 61000, Phone: + 972 3 5149419, Facsimile: + 972 3 5149732,
Electronic Mail: jennifer@bll.co.il




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            The company news service from the London Stock Exchange

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