Israel’s Ministry of Finance has given the green light to the merger between Cellcom Israel and Golan Telecom. Cellcom’s share price is up by more than 5% on the news.
In February, Cellcom announced that it would buy Golan Telecom at a valuation of NIS 737 million (US$213.6 million).
The Ministry of Finance Budgets Division stated, “After analyzing the expected consequences of a merger between Cellcom and Golan Telecom, including its effect on competition, on price levels, and on investment in the market, we did not find that the merger raises concerns about damage that would justify objecting to the application being brought before the various government agencies.
“This is because of the multiplicity and variety of players in the mobile telephony market, alongside the fact that most of the players compete with one another in other areas in which their competitive standing is different. We therefore do not believe that there is any substantial reason to oppose the merger between Cellcom and Golan Telecom.”
Full Content: Globes
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI