Golan and Hot both entered the market following a major cellular reform led by then-communications minister Moshe Kahlon.
"A decision against approving the deal would signal to foreign investors that Israel does not respect the rules of conduct and OECD standards," says Golan.
Golan was one of the new players to enter the market following reforms that lead to dramatic drops in the price of cellular services.
Some market analysts believe that the telecoms market in Israel is too crowded, and that one way or another, it will consolidate.
Golan was not the end-all and be-all of competition, and the ministry had to concern itself as to whether enough investment was being made in infrastructure.
If two of the players join forces, they would control 40% of the market, and prices would creep back up.
Approval is far from guaranteed since a merger might hurt consumer prices, however,
"Shareholders have given and investment bank the mandate to evaluate and explore options that could lead to a sale, acquisition, merger, but could also leave Golan Telecom independent," says company.
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