NETANYA, Israel, November 20, 2017 /PRNewswire/ --
Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) (hereinafter: the
"Company"), announced today that it is holding negotiations with
Partner Communications Company Ltd. or Partner, another Israeli
telecommunications operator, regarding a potential long term
cooperation agreement for the deployment of fiber optic
infrastructure by both companies, whereby each party will be
entitled to purchase from time to time, as per its needs and at its
sole discretion, fiber optic infrastructure services (including
Indefeasible Right of Use - IRU) in the other party's present
and/or future fiber optics infrastructure in order to connect
residential buildings throughout Israel.
The agreement, if concluded and executed, will allow the
companies to avoid duplicated future deployment, as well as allow
the Company to reduce costs while improving its ability to provide
quality services. The effect of the agreement on the Company's
results of operations, if concluded and executed, is subject to the
actual cooperation executed.
The finalization of the agreement is subject to further
negotiations between the parties and if concluded, the execution of
the agreement will be subject to the required regulatory approvals.
There is no assurance that the negotiations will be concluded nor
that regulatory approvals will be received or that the agreement
will be executed.
At the same time, the Company is exploring other ways to
accelerate the deployment of an independent fiber
infrastructure.
For additional details see the Company's annual report for the
year ended December 31, 2016 on Form
20-F dated March 20, 2017 under 'Item
3. Key Information - D. Risk factors - Risks related to our
business - We face intense competition in all aspects of our
business', '- Our investment in new businesses involves many risks'
and 'Item 4. Information on the Company -B. Business Overview -
Competition - Fixed-Line Segment' and '-Internet Infrastructure and
ISP Business'.
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is the largest Israeli
cellular provider; Cellcom Israel provides its approximately 2.779
million cellular subscribers (as at June 30,
2017) with a broad range of value added services including
cellular telephony, roaming services for tourists in Israel and for its subscribers abroad and
additional services in the areas of music, video, mobile office
etc., based on Cellcom Israel's technologically advanced
infrastructure. The Company operates an LTE 4 generation network
and an HSPA 3.5 Generation network enabling advanced high speed
broadband multimedia services, in addition to GSM/GPRS/EDGE
networks. Cellcom Israel offers Israel's broadest and largest customer service
infrastructure including telephone customer service centers, retail
stores, and service and sale centers, distributed nationwide.
Through its broad customer service network Cellcom Israel offers
technical support, account information, direct to the door parcel
delivery services, Internet and fax services, dedicated centers for
hearing impaired, etc. Cellcom Israel further provides OTT TV
services (as of December 2014),
Internet infrastructure (as of February
2015) and connectivity services and international calling
services, as well as landline telephone communication services in
Israel, in addition to data
communication services. 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.
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 potential transaction and execution thereof and the
benefits therefrom, are subject to uncertainties and assumptions
about the completion of the negotiations, approval of the
transaction by the Company's Board of Directors, the receipt of the
necessary approvals, the parties' ability to execute the
contemplated arrangements and the Israeli telecommunication
regulation and market condition. The actual conditions the Company
may face could lead to materially different outcome than that set
forth above.
Company Contact:
Shlomi Fruhling
Chief Financial Officer
investors@cellcom.co.il
Tel: +972-52-998-9755
Investor Relations Contact:
Ehud Helft
GK Investor & Public Relations
cellcom@gkir.com
Tel: +1-617-418-3096
SOURCE Cellcom Israel Ltd.