NETANYA, Israel, Oct. 15, 2020 /PRNewswire/ -- Cellcom Israel Ltd.
(NYSE: CEL) (the "Company") announced today that following its
previous announcements regarding receivership actions taken in
relation to its indirect controlling shareholder, Discount
Investment Corporation Ltd., or DIC's shares, pledged in
favor of the debenture holders of IDB Development Corporation Ltd.,
or IDB, the Ministry of Communications granted its approval to the
previously reported appointment of receivers to the pledged DIC
shares representing approximately 70% of DIC's share capital. In
addition, the court approved their appointment as permanent
receivers and the appointment of temporary receiver to
additional pledged DIC shares representing approximately 12% of
DIC's share capital. The court further approved the publication by
the receivers of an invitation to make offers for the purchase of
the pledged DIC shares.
For additional details see the Company's current reports on Form
6-K dated September 23 and 27,
2020.
The Company shall continue to report material developments, as
and to the extent such developments occur.
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 approximately 2.734 million cellular subscribers (as
at June 30, 2020) with a broad range
of services including cellular telephony, roaming services for
tourists in Israel and for its
subscribers abroad, text and multimedia messaging, advanced
cellular content and data services and other value-added 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. 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
Shai
Amsalem
Chief Financial Officer
investors@cellcom.co.il
Tel: +972-52-998-9735
Investor Relations Contact
Elad Levy
Investor Relations Manager
investors@cellcom.co.il
Tel: +972-52-998-4774
View original
content:http://www.prnewswire.com/news-releases/cellcom-israel-ltd-announces-developments-re-controlling-shareholder-301153400.html
SOURCE Cellcom Israel Ltd.