Cellcom Israel Suffers Setback In Its Bid To Buy Golan Telecom

Cellcom Israel Ltd.

suffered a setback in its bid to acquire Golan Telecom Ltd. In a statement issued to the media, the company indicated that the Antitrust Commissioner, as well as, the Israeli Ministry of Communications was opposing the planned acquisition. Cellcom Israel said that the arguments for taking such a decision were yet to be provided. As a result, it would consider its options after the company gets the arguments and review them for the decisions, according to the company. The company said that for more details in respect of the planned deal to buy Golan Telecom, it has advised investors visiting its recent annual report for the year ended December 2015 on Form 20-F. Cellcom Israel indicated that Item 3 Key Information – D provided key information about the acquisition. Similarly, it has also provided risks in respect of the acquisition. Shares of the company ended with a loss of 0.14% on Monday.