MED-1 Submarine Cables

has decided against entering a joint project with mobile phone company Cellcom to deploy an optic communications network in the coastal city of Haifa, TheMarker has learned.

Med-1 declined to comment.

Med-1 is believed to have rejected the project as being economically unfeasible.

A few months ago TheMarker reported that Med-1 froze its network deployment to other Israeli cities, claiming that the investment would not return itself.

Med-1 chief executive Avi Alkalay claimed at the time that the cities were demanding the company renovate the towns in exchange for permits.