Golan Telecom applies for guarantee refund having achieved subscriber target

8 Jan 2014

Golan Telecom is said to have asked the Israeli Ministry of Communications (MoC) to refund its ILS360 million (USD102 million) guarantee, Globes Online reports, with the mobile operator claiming to have met the terms of its concession that had been set by the regulator before it could be refunded. The development comes on the back of Golan’s recent announcement that it has now signed up 390,000 subscribers, the number required for it to make the request for the guarantee refund; as per the license tender Golan had to achieve 7% weighted market share to be eligible for the refund.

A review of the matter by the MoC is now expected, and the refund could be processed within the next few weeks, the report claims. Meanwhile, unnamed sources have suggested that, once it has its guarantee reimbursed, Golan could slow the pace of its aggressive marketing campaigns.

Israel, Golan Telecom, Ministry of Communications