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
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Car Battery Makers to Challenge EU Cartel Charges in Brussels
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI