NETANYA, Israel, Nov. 22, 2020 /PRNewswire/ -- Cellcom Israel Ltd.
(NYSE: CEL) (the "Company") announced today that following its
previous announcements regarding receivers appointed to the
controlling shares of its indirect controlling shareholder,
Discount Investment Corporation Ltd., or DIC, pledged in favor of
debenture holders of IDB Development Corporation Ltd., the court
approved the receivers' motion to sell the pledged DIC shares
representing approximately 82% of DIC's share capital to a group of
investors led by Mega Or Holdings Ltd., subject to further
approvals as may be required by law. Pursuant to the Company's
licenses such transfer of control requires the approval of the
Israeli Ministry of Communications which is yet to be provided.
For additional details see the Company's current reports on Form
6-K dated September 23 and 27, 2020
and October 15, 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 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.
For additional information please visit the Company's website
Investor Relations Manager
SOURCE Cellcom Israel Ltd.