NETANYA, Israel, July 5, 2018 /PRNewswire/ -- Cellcom Israel Ltd.
(NYSE: CEL) (TASE: CEL) (hereinafter: the "Company") announced
today that following the Company's previous reports regarding a
frequencies migration the Company shall be required to execute to
accord to European standards, the Ministry of Communications, or
MOC, notified the Company that its 850MHZ frequencies allocation
shall expire on February 1, 2022 and
replaced by 900MHZ frequencies no later than March 22, 2021. The method and schedule in which
such replacement will be executed, including interim frequencies
allocations as required, shall be formed separately. The MOC noted
the Company may use an interim leniency to the Planning and
Building Law, allowing, under certain conditions, replacement of
cell sites without obtaining a building permit. The Company is
examining the implications of the MOC's notification and possible
courses of action.
For additional details see the Company's annual report the year
ended December 31, 2017 on Form 20-F
dated March 26, 2018 under "Item 3.
Key Information – D. Risk factors – Risks related to our business -
We operate in a heavily regulated industry, which can harm our
results of operations, Regulation in Israel has materially adversely affected our
results", "- We may not be able to obtain permits to construct and
operate cell sites" and "-We may be adversely affected by
significant technological and other changes in the
telecommunications industry" and "Item 4. Information on the
Company –B. Business Overview – Network and Infrastructure –
Cellular Segment- Cellular Infrastructure - Spectrum allocation"
and "- Government Regulation – Cellular Segment - Permits for Cell
Site Construction".
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is the largest Israeli
cellular provider; Cellcom Israel provides its approximately 2.822
million cellular subscribers (as at March
31, 2018) 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, internet infrastructure and connectivity services and
international calling services, as well as landline telephone
communications services in Israel,
in addition to data communications 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.
Company Contact
Shlomi
Fruhling
Chief Financial Officer
investors@cellcom.co.il
Tel: +972-52-998-9735
Investor Relations Contact
Ehud Helft
GK Investor & Public Relations In partnership with
LHA
cellcom@GKIR.com
Tel: +1-617-418-3096
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SOURCE Cellcom Israel Ltd.