NETANYA, Israel, Feb. 8, 2021 /PRNewswire/ -- Cellcom Israel Ltd.
(NYSE: CEL) (TASE: CEL) (hereinafter: the "Company") announced
today that following its previous announcement regarding an
investment transaction between the Company, the Israel
Infrastructure Fund and Hot Telecommunication Systems Ltd. in IBC
Israel Broadband (2013) Ltd., or IBC, the Israeli Minister of
Communications, or MOC, granted its approval for the transaction,
which completes the regulatory approvals and changes required for
the completion of the transaction. The MOC's approval includes
certain amendments to IBC's license, including an obligation to
reach 1.7 million households within 5 years, substantially in line
with the investment agreement, and an obligation to provide a
"shelf proposal" to any operator interested in purchasing its
services. The completion of the transaction is expected to occur in
the coming days. The Company shall report the completion of the
transaction once it occurs.
For additional details see the Company's annual report on Form
20-F dated March 23, 2020 under "Item
4 – Information on the Company – B. Business Overview – Networks
and Infrastructure – Fixed-line Segment – Investment in IBC and
sale of fiber-optic infrastructure to IBC" and the Company's
current reports on Form 6-K dated September 15, 2020 and
January 20, 2021.
Forward looking statement
The information included in this press release contains, or may
be deemed to contain, forward-looking statements (as defined in the
U.S. Private Securities Litigation Reform Act of 1995 and the
Israeli Securities Law, 1968). Said forward-looking statements,
relating to the completion of transaction, are subject to
uncertainties and assumptions about the fulfilment of the
conditions to the closing. The actual conditions the Company may
face could lead to materially different outcome than that set forth
above.
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is a leading Israeli
communications group, providing a wide range of communications
services. Cellcom Israel is the largest Israeli cellular provider,
providing its cellular subscribers with a broad range of services
including cellular telephony, roaming services, text and multimedia
messaging, advanced cellular and data services and other
value-added services in the areas of mobile office, data
protection etc., based on Cellcom Israel's technologically advanced
infrastructure. The Company operates advanced networks enabling
high speed broadband and advanced multimedia services. Cellcom
Israel offers nationwide customer service including telephone
customer service, retail stores, and service and sale centers.
Cellcom Israel further provides OTT TV services, internet
infrastructure and connectivity services and international calling
services, as well as landline telephone services in Israel.
Cellcom Israel's shares are traded both on the New York Stock
Exchange (CEL) and the Tel Aviv Stock Exchange (CEL). For
additional information please visit the Company's
website http://investors.cellcom.co.il.
Company
Contact
|
Investor Relations Contact
|
Shai
Amsalem
|
Elad Levy
|
Chief Financial
Officer
|
Investor Relations
Manager
|
investors@cellcom.co.il
|
investors@cellcom.co.il
|
Tel:
+972-52-998-4774
|
Tel:
+972-52-998-4774
|
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SOURCE Cellcom Israel Ltd.