Connect with us

Golan Telecom Gets Two Potential Buyers

Asia

Golan Telecom Gets Two Potential Buyers

Two parties have shown interest in purchasing the Israeli mobile operator Golan Telecom. One interest has come from a group led by the former Pelephone CEO Gil Sharon, and another is Hezi Bezalel, the owner of fixed-line telco 018 Xfone, reports an Israel business new Globes English.

Merger

According to the report, Sharon and Bezalel initially considered for a joint bid, which later turned to be independent. Golan is said to be keen in closing the sale deal before November. In November, the company is entitled to pay 600 million shekels (€141.9 million) to market leader Cellcom as part of a network-roaming deal.

Cellcom had tried to acquire Golan Telecom for ILS1.17 billion in November 2015. However, it failed to acquire the necessary regulatory approval for the deal. Cellcom has filed a petition against the ministry of communication’s decision not to approve the takeover. Golan Telecom has also filed a similar petition. In its petition, Golan Telecom claims that the rejection of the deal is extremely unreasonable, and it does not come under the purview of the regulator’s authority, due to the involvement of ‘foreign’ considerations based on improper political-media pressure.

Ria Lakshman. V is a lead news writer at The Telecom Times. She studied Journalism at Manipal School of Communication and proceeded to work in newspapers and magazines, with technology as her focus area. Passionate about Telecommunications sector, her move to 'The Telecom Times' was a natural choice. Alongside, she also writes for Telecom Talk, where she covers news and tech commentaries in the sector of telecom. In the free time, Ria loves to go camping, read books, or sketch illustrations. She also runs a local design studio and promotes eco-friendly crafts. Ria can be found sharing her knowledge and insights on Twitter.

Trending

Contributors

RSS Technology – Hardware

RSS Technology – Networks

RSS Technology – Robotics

RSS Technology -Semiconductors / Chips

RSS Technology – Software

RSS Telecommunications – Networks

RSS Telecommunications – Services

To Top