Golan may request to be appointed receiver
Golan Telecom, the Israeli telecommunications company, may request the appointment of a receiver, according to a report in Globes. The report noted, based on unidentified sources, that, following the probable decision of the Antitrust Authority of Israel to block its planned merger with the Israeli telecommunications company Cellcom, Golan is considering requesting the appointment of a receiver and a stay on proceedings from the court.
Golan has been paying ILS 21m (USD 5.7m) a month to Cellcom to use the latter's network, at a rate that has been increasing over the last few years, while it has not been able to expand its number of subscribers. The report said that the company believes these to be the main reasons for its financial difficulties, which it argues it might have overcome with a potential merger with Cellcom.
Golan did not comment on the news.
Globes