Cellcom and NetVision complete merger transaction

8 Sep 2011

Just over a month after shareholders of Israeli mobile network operator Cellcom and local internet service provider (ISP) and international call carrier NetVision approved plans for the tie-up of the two companies, the former has announced that the merger transaction has been completed. The company noted that the deal was completed on 31 August 2011, saying that the merger consideration in the total amount of ILS1.57 billion (USD427 million) was transferred to shareholders of NetVision; the total represented a per share price for NetVision shares of ILS49.68. As a result of the transaction, all outstanding shares of NetVision were transferred to Cellcom, and the former has now become a wholly-owned subsidiary of Cellcom.

Israel, Cellcom, NetVision