Investing.com - Shares of Israeli mobile phone company Cellcom Israel (NYSE: CEL ) jumped more than 11.5% in U.S. trading Wednesday on news it may be a takeover target.
- The buyer, according to Globes, an Israeli business news website, might be Golan Telecom, controlled by Elco (TASE: ELCO ). Elco is interested in expanding in the Israeli mobile telephone market and Cellcom Israel is the likely target, if controlling shareholder Eduardo Elsztain decides to sell.
- Golan, under a former owner, tried to buy Cellcom Israel before, but was blocked by the Israel Competition Authority
- Cellcom Israel shares have struggled and are down more than 50% this year.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.