Israeli operator Cellcom has signed an agreement to acquire ISP and international call carrier NetVision for ILS 1.54 billion. The price paid is in accordance with an independent valuation of Netvision just published. The boards of directors of both companies have approved the merger. Both companies are controlled by IDB Holding. Through IDB, Discount Investement holds 48.3 percent of Cellcom and 38 percent of NetVision. The companies entered talks on the deal in March after Cellcom made an offer of ILS 1.5 billion. The deal allows the mobile operator to expand into fixed-line and internet services and start offering integrated fixed and mobile services. Israeli incumbent Bezeq already owns the mobile operator Pelephone, while the third mobile operator, Orange Israel, recently acquired fixed-line operator 012 Smile Telecom.
