Golan Telecom: Sharon and Elco's withdrawal may be tactical
Sharon and Elco Group's withdrawal from bidding for the Israeli telecommunications company Golan Telecom may be "tactical", according to a report in Ha'aretz.
The report noted, based on unindentified sources, that although Elco says the withdrawal decision is final, the withdrawal might be tactical.
Elco and Sharon Group were believed to be financially stronger than their rival, Xfone for the deal. The companies were reported to be evaluating a ILS 300m (USD 80m) offer for Golan.
Cellcom, the Israeli telecommunications company, had previously offered ILS 1.17bn to buy Golan but Israeli antitrust authorities blocked the deal.