Cellcom completes co-investment in IBC, sale of fibre-optic infrastructure

2 Aug 2019

Israel’s Cellcom has confirmed that it has completed both an indirect co-investment in wholesale broadband provider Israel Broadband Company (IBC) and the sale of its independent fibre-optic infrastructure to IBC. In a press release confirming the development, Cellcom noted that it paid approximately ILS55 million (USD16 million) for its indirect stake in IBC, the majority of which was ‘indirectly provided as [a] shareholder loan to IBC’. Meanwhile, the operator said it had received around ILS180 million for independent fibre-optic network which is present in residential areas, in a transaction financed entirely through shareholder loans indirectly provided to IBC by Cellcom, and its now co-investor in the wholesale broadband provider, Israel Infrastructure Fund (IIF).

Israel, Cellcom, Israel Broadband Company (IBC)