Cellcom Israel Announces Israeli Holding Requirement Postponed

NETANYA, Israel, Jan. 1, 2018 /PRNewswire/ — Cellcom Israel Ltd. (NYSE: CEL) (the “Company“) announced today that following the previously reported amendment to the Company’s cellular license in relation to the requirement that Israeli citizens and residents from among the Company’s founding shareholders hold at least 5% of the Company’s outstanding shares and other means of control as of December 31, 2017, the Israeli Ministry of Communications amended again the Company’s cellular license so as to postpone the application of such requirement until January 31, 2018.

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 – There are certain restrictions in our licenses relating to the ownership of our shares ” and “Item 4. Information on the Company – B. Business Overview – Government Regulations – Cellular Segment – Our Cellular License”, the Company’s current report on Form 6K dated August 4, 2017 under “Other developments during the second quarter of 2017 and subsequent to the end of the reporting period – Regulation – Cellular License Amendment ” and the Company’s current report on Form 6K dated November 22, 2017 under “Other developments during the third quarter of 2017 and subsequent to the end of the reporting period – Regulation – Cellular License Amendment”.  

About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is the largest Israeli cellular provider; Cellcom Israel provides its approximately 2.805 million cellular subscribers (as at September 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 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.

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SOURCE Cellcom Israel Ltd.