Shareholders in Israeli mobile network operator (MNO) Golan Telecom have reportedly hired an investment bank to explore a number of options, including putting the company up for sale, according to Reuters. As a result of this, Golan rival Cellcom has reportedly said it will review the possible purchase of the holdings of the former, following an invitation by Bank Rothschild. In a statement on the matter, however, Cellcom noted that the development may come to nought, by stating: ‘There is no assurance that the company will make an offer to purchase Golan Telecom nor as to the execution of such a sale.’
As noted in TeleGeography’s GlobalComms Database, Golan Telecom inaugurated its 3G network in May 2012, since which date it has aggressively challenged the market’s more established operators on price. Such a tactic has proved successful, with the operator having signed up around 712,000 subscribers as at end-March 2015, giving it roughly 7% of the market.