Hopes remain for consolidation in Israel’s ultra-competitive mobile market, despite reported government opposition to a removal of maverick Golan. Xavier Niel, one of the number five player’s founders, is meanwhile building a stake in Telecom Italia.
Israeli incumbent Bezeq (TASE:BEZQ) has submitted an offer to acquire Golan Telecom despite potential government opposition to in-country consolidation.
Bezeq, whose mobile business trades as Pelephone, announced the move in a stock exchange filing yesterday.
Market leader Cellcom (TASE:CEL) has effectively been ruled out due to competition concerns, while Altice-owned Hot Mobile has indicated it will not participate.
Rothschild is running the sale, which is reportedly worth up to NIS1bn (US$259m).
Bezeq has 2.6 million subscribers, while Golan has 852,000.