Israeli mobile operator Cellcom today completed its merger with local ISP/fixed-line operator Netvision in a deal worth around NIS 1.570bn (US$441m).
This consideration equates to approximately US$13.91 per one Netvision share.
“Effective as of…
Israeli mobile operator Cellcom today completed its merger with local ISP/fixed-line operator Netvision in a deal worth around NIS 1.570bn (US$441m).
This consideration equates to approximately US$13.91 per one Netvision share.
“Effective as of August 31, 2011 all the outstanding shares of Netvision were transferred to the Company and Netvision became a private company wholly owned by the company,” announced Cellcom.
Netvision agreed to the takeover approach on 13 March 2011.
It was previously controlled by conglomerate IDB Holding through Discount Investments (33%), Clal Industries (26%) and Elron (16%), while the public held approximately 25% of the shares. IDB Holding also controls Cellcom.
The merger creates a full-service telecoms firm that is able to provide telephony, international calls, ISP, and mobile services.
Cellcom did not disclose their advisers on the transaction.
