Yes satellite TV is in advanced negotiations with an international media organization interested in investing in the company, TheMarker has learned. TheMarker also learned that the organization hired a local consulting firm to act as a mediator in its talks with Yes shareholders.
Market estimates are the negotiations are crucial to the satellite company, which is likely to suffer higher losses due to the recession in the next few years. However, market sources doubt the talks will culminate in a transaction.
The cable companies' headway in their merger talks, and the antitrust commissioner's imminent approval, place pressure on Yes shareholders, who are aware of the fact Yes will post major losses and not enough sales in the next few years.
Though in private talks Bezeq officials claim the company has no intentions of increasing its holding in Yes to more than 50%, estimates are it will have to do so, and that the greater stake in the not too profitable satellite firm will pressure the phone company.
Yes CEO Shlomo Liran told TheMarker a month ago that "there is definitely a possibility of a new investor entering Yes, and of us thus having one investor from the infrastructure sector, i.e. Bezeq, and a media related one, the new international investor. This is the best thing Yes could hope for, and in many cases reality lives up to one's hopes."
Today it appears the investment is a financial one, which could make things a little better for the satellite company. A top Yes executive recently said the company could use all the financial support it could get.