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Wednesday, October 27, 2021

Cellcom [NYSE: CEL] Completes Golan Telecom Purchase

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Cellcom Israel Ltd [NYSE: CEL] has completed the purchase of Golan Telecom. Cellcom disclosed today that after the binding memorandum of understanding and approval of Israeli Competition Authority the deal finally concluded today.

Both the parties have completed the purchase of Golan’s entire share capital, based on the MOU, for a total sum of approx. NIS 545 million-plus an amount equal to the cash and cash equivalents of Golan.

Cellcom’s shares had plummeted 0.53%, or down -0.02 during the trading of Wednesday. It has day low and high range of $3.73-$3.79, respectively.

Cellcom Israel Ltd had reported the trading volume of 3.63K as compared to the average volume of 17.64K. It has total market capitalization of 551.66 million.

Turing our focus on profitability, its has return on assets (ROA) of -2.10%, return on equity (ROE) of -8.00%, and return on investment (ROI) of 0.80%.

Its Gross Margin is 26.30%, Profit Margin is -4.00%, and an Operating Margin is 0.10%. Cellcom has reported the sales of 1.06 billion. Looking at its liquidity, its current ratio is 1.80.

Similarly, its quick ratio is also 1.80. This company has debt to equity ratio of 2.07 and long term debt to equity ratio of 1.78.

During the past 52-weeks of trading, Cellcom Ltd. shares has fluctuated between the low of $1.80 and a high of $4.49. Its shares has moved up 107.22% from its 52-weeks low and moved down -16.93% from its 52-weeks high.

Earlier, it has reported that the MNO license of Golan has been replaced with an MVNO license temporarily after the deposit of a bank guarantee by Golan with the MOC, in the sum of approx. NIS 75 million.

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