Golan Telecom has finally been awarded the fifth new mobile operator license in Israel. The announcement came following Golan Telecom’s depositing the necessary bank guarantees to secure the license.
Incidentally, Golan Telecom had only emerged third in the recent license auction. The two higher bidders being 018 Xfone Communications and Select Communications which were eventually disqualified as they failed to deposit required bank guarantees within the stipulated timeframe.
$105 million worth of deposit has been submitted by Golan Telecom, which was a much lesser bid than the two disqualified companies.