Golan Telecom: Patrick Pariente takes lead in sale talks, replaces Michael Golan - report
Michael Golan, the Israeli businessperson, has been replaced by Patrick Pariente to handle talks for the sale of the Israeli telecommunications company Golan Telecom, according to a report in Globes.
The report noted, based on unidentified sources, that Golan shareholders decided they were let down by the lack of progress in the talks for the sale of Golan, and resolved to replace Michael Golan with Pariente.
The report said that the Israeli businesspersons Gil Sharon and Electra , which have been in talks to buy Golan Telecom, failed in an attempt to close an acquisition deal by the end of last week, in part, as Michael Golan insisted that the buyers met certain demanding conditions.
Electra had previously withdrawn from the talks, but had come back to place a bid with Sharon, the report continued.
Golan has to pay ILS 600m (USD 154.5m) to the Israeli telecommunications company Cellcom, and if no progress can be made soon, Cellcom may seek to take steps to claim what it is owed, the report added.