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Pelephone Signs Non-Binding Agreement to Acquire Wecom for 265 Million Shekels

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First reported by Ynet · 2 hours ago

What happened

Pelephone has signed a non-binding agreement to acquire Israeli cellular operator Wecom for about 265 million shekels, pending regulatory approvals. The deal includes a 60-day exclusivity period for due diligence and negotiations. If completed, Pelephone aims to boost its investment in Israel's 5G infrastructure and strengthen market competition.

01Pelephone signs a non-binding agreement to buy Wecom for approximately 265 million shekels.
02The deal includes a 60-day exclusivity period, extendable by 30 days, for due diligence and negotiations.
03Completion depends on regulatory approvals from the Ministry of Communications and Antitrust Authority.
04Pelephone CEO Ilan Sigal emphasized the strategic value and growth potential of the acquisition.
05The acquisition aims to enhance Pelephone's investment in Israel's 5G infrastructure and market competition.

Summary translated & synthesized from the sources below by baba. Read each original for the full report.

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Ilan Sigal