Pelephone submitted an offer to buy from the cellular company Golan Telecom for a total of NIS 710 million

Bezeq reported on Sunday that its subsidiary Pelephone today submitted an offer to buy from the cellular company Golan Telecom for a total of NIS 710 million. The company noted that the offer is valid until April 15.
This report comes after Electra should approve Calcalist's exposure this morning, which Cellcom negotiates with it to acquire its stake (90%) in Golan Telecom, for NIS 600 million. Electra Consumer Products, controlled by Danny and Mikey Zalkind, released the report after the weekend progressed in contacts between the parties. Golan Telecom's CEO Gil Sharon, who also previously served as Pelephone's CEO, holds the remaining 10%.
The deals come in response to last month's HOT bid to Cellcom's partner Partner for NIS 3.6 billion. In addition, Expon 012 and Rainbow signed an initial subsidiary document last month for a transaction in which Rainbow will acquire 50 percent of Expon. If the deal is actually fulfilled, the two companies will later explore the possibility of establishing a new streaming service that will broadcast content over the Internet (OTT).
Today, cellular companies operate in three networks: Cellcom together with Golan Telecom and Expon - the WE4g brand; Partner along with HOT; And a cellphone alone. Operationally, therefore, Cellcom's offer to the Golan makes more sense. The agreement between the companies, signed in 2017, is for 10 years. In the event that Golan violates the agreement, it will be required to pay Cellcom NIS 600 million plus VAT compensation. If such a deal is approved, Pelephone will become the largest cellular company in Israel with a market share of about 30% of cellular subscribers in Israel.