Cellcom in the frame as Golan Telecom shareholders mull possible sale?

27 Aug 2015

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.

Israel, Cellcom, Golan Telecom