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Representation of Israel Electric Corporation in the IBC optic fiber project
Our firm represented Israel Electric Corporation as shareholder in the optical fibers project IBC, in a transaction in which Cellcom will purchase the stake of other shareholders in the project for a total consideration of approximately ILS100 million, which shall also be used to repayment of debts to the exiting shareholders. Upon closing of the transaction, Cellcom will hold 70% of the project (alone or with a group of investors) and IEC will hold 30%.
The project is meant to allow deployment of optical fibers on top of IEC’s electrical grid, allowing it to become a competitive factor in the fiber internet market.
IEC is represented by Adv. Yoav Dankner and Adv. Irina (Iris) Kushel.
For coverage in Globes –https://www.globes.co.il/news/article.aspx?did=1001247981
