Pelephone Agrees to Acquire Wecom for 265 Million Shekels
Pelephone has agreed to acquire Wecom for 265 million shekels in a deal aimed at expanding its subscriber base and boosting Bezeq Group's EBITDA.
Pelephone has signed an agreement to acquire Wecom for approximately 265 million shekels, following the completion of due diligence and months of negotiations. The transaction remains subject to regulatory approval from the Ministry of Communications and the Competition Authority.
Pelephone stated that the acquisition is a significant milestone in its growth strategy, designed to expand its customer base and strengthen its ability to develop network infrastructure, services, and innovation. The deal is expected to positively impact the EBITDA of the Bezeq Group through potential synergies, estimated at roughly 50 million shekels in the short term and around 100 million shekels in the long term.
Pelephone is Israel's pioneer mobile operator, serving over 2.7 million subscribers, including more than 1.6 million 5G users, and was the first in the country to operate an independent 5G core network. Wecom serves over 300,000 customers, holding a market share of approximately 3%.
Pelephone CEO Ilan Sigal commented: "The completion of due diligence and the signing of a binding agreement represent another positive step toward finalizing the acquisition of Wecom. We are now working to secure the necessary regulatory approvals from the Ministry of Communications and the Competition Authority. The cellular market is capital-intensive, and this deal will allow us to continue leading investments in Israel's advanced communications infrastructure, which serves as a vital national asset."
