According to Labor Party MK and former cabinet minister Binyamin Ben-Eliezer (Fuad), Israel offered Hosni Mubarak asylum in Eilat, after the former Egyptian president was forced to flee to Sharem Al-Sheikh. It would have probably been a sweet deal for Mubarak. After all, his trial began today in Cairo, and my guess is that he's never going to be released from prison.
What would have Israel gained from this? Nothing. I'm glad he didn't accept. Had he been granted asylum in Israel, it would only have created new tensions with the Egyptian people. I have no idea how the military rulers would have responded to such a development, though. On the one hand, they might have been happy not to have Mubarak around, and some of them may still be his cronies. On ther other, they could have felt pressure to confront Israel and have him extradited.