Israel-based Electra acquires Golan Telecom for $91 million

Israel’s Electra Consumer Products has agreed to buy upstart mobile phone operator Golan Telecom for 350 million shekels ($91 million), ending months of speculation over Golan’s future.

Electra also said it had signed a 10-year network sharing agreement with Cellcom, Israel’s largest mobile operator, and that Cellcom will lend it 130 million shekels to help finance the purchase of Golan.