Cellcom authorizes Golan to negotiate with buyers

Nir Sztern and Michael Golan

Hezi Bezalel and Gil Sharon may join forces to buy mobile operator Golan Telecom.

Following the report published by "Globes" yesterday that Golan Telecom Ltd. is in talks regarding its sale, Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) announced today that it had authorized Golan to conduct the negotiations. The network sharing agreement between the parties states that Golan is prohibited from negotiating its sale during the term of its contract without permission from Cellcom.

As "Globes" revealed yesterday, Golan is in talks for its sale to 018 Xfone Communications Ltd. owner Hezi Bezalel and a group headed by former Pelephone Communications Ltd. CEO Gil Sharon. The two companies are holding negotiations with Cellcom on a network sharing agreement, in case one of them acquires Golan. It is also possible that eventually the two companies will join forces in buying Golan.

Published by Globes [online], Israel business news - www.globes-online.com - on September 12, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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Nir Sztern and Michael Golan
Nir Sztern and Michael Golan
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