Cellcom to keep Golan as independent brand

News

logoprint
Feb 20, 2020 | News | Jerusalem & Area
Cellcom to keep Golan as independent brand

Israeli mobile phone operator Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) plans keeping Golan Telecom as a brand and allow the rival company that it has acquired to continue operating independently. Cellcom has reached the conclusion that Golan Telecom is a brand valued by the public and it therefore makes sense to keep it operating.


Cellcom announced yesterday that it is acquiring Golan Telecom for NIS 590 million cash. Cellcom will also wipe out the NIS 130 million debt that Golan Telecom has to it. Golan Telecom has NIS 67 million cash that will remain with the company's previous owners Electra Consumer Products.

Share:

More News