Cellcom Israel still in negotiations with Golan Telecom
Following reports in the Israeli media over the potential takeover of Golan Telecom, Cellcom Israel has announced that following the regulators’ opposition to its proposed acquisition the parties are still negotiating an agreement.
A deal, if finalised and approved by the regulators, would allow Golan Telecom to continue to use the cellular provider's networks in the provision of its services.
However, the company also stated: “Entering such agreement is subject to further agreements which are yet to be reached and there is no certainty that such agreements will be reached nor as to the entering into such an agreement.”
Further details about the risks and competition related to the business over the proposed acquisition of Golan Telecom will be revealed when the company’s first quarter 2016 results are published on Monday May 23, 2016.