Israeli operator Bezeq said its subsidiary Pelephone Communications has submitted a conditional proposal for the purchase in cash of the entire ownership and control of Golan Telecom for ILS 710 million. Bezeq said this proposal is valid until 15 April and is subject to the fulfillment of various conditions, including signing a binding agreement on terms, if they are agreed, and the approval by the boards of both Pelephone and the company.
Golan is a competitor of Pelephone. If at the end of the process a binding agreement is signed as stated, its implementation will be subject to the receipt of approvals from the various regulators, including the Ministry of Communications and the Commissioner for Economic Competition.
This comes a day after Cellcom Israel declared that it is in negotiations with Golan Telecom shareholders with regard to a possible purchase of their holdings in Golan Telecom.
