Golan Telecom sale talks at advanced stage, two parties interested
Golan Telecom, the Israeli telecommunications company, is at an advanced stage in talks to be sold to either a consortium that comprises the businessperson Gil Sharon and Elco Holdings; or to 018 Xfone, according to a report in Globes.
The report noted that Cellcom Israel, which has a network sharing agreement with Golan, and is owed money by Golan, announced that it is holding talks with both groups for a network sharing deal which will have an annual value of ILS 220m to ILS 250m (USD 66m).
The report claimed, based on unidentified sources, that the Sharon-Elco consortium is willing to sign an agreement sooner than its competitor, and as such may have a higher chance of winning the deal, since Golan owners are seeking to reach an agreement as soon as possible.
Cellcom noted that it cannot guarantee whether any deal for network sharing would be approved by the regulatory authorities.