Cellcom Israel To Buy Golan Telecom For USD 172 mn

The company will also forgive 130 million shekels of debt that Golan owes to the company or its use of Cellcom’s network.

Cellcom would pay the amount in two installments – 413 million shekels on completion of the transaction and 177 million shekels within 3 years from completion.

Bezeq Israel Telecom’s Pelephone unit also submitted  a bid to buy Golan for 710 million shekels.-Telecomlead