Alvarion bidders up offers

Alvarion receiver Yoav Kfir is expected to recommend to the court to approve Sigma Wave's offer of NIS 37.5 million for Alvarion.

The bidders for Alvarion Ltd. (Nasdaq: ALVR; TASE: ALVR) - Sigma Wave Ltd. and Valley Telecom Ltd. - have greatly raised their offers for the company in the new auction ordered by Tel Aviv District Court Judge Eitan Orenstin on Monday.

Alvarion receiver Yoav Kfir is expected to recommend to the court to approve Sigma Wave's offer of NIS 37.5 million for Alvarion and promise to hire all of its employees at their employment terms before the receivership for a period of one year. Sigma Wave, owned by Arie Trabelsi, previously took control of SuperCom Inc. (Bulletin Board: SPCBF) and successfully turned it around.

Valley Telecom is headed by high-tech businessman Jorge Pinievski.

Sigma Wave and Valley Telecom both offered around NIS 20 million in the previous auction for Alvarion, which went into receivership in July.

Published by Globes [online], Israel business news - www.globes-online.com - on September 3, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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