NETANYA, Israel, March 29, 2015 /PRNewswire/ -- Cellcom Israel
Ltd. (NYSE: CEL) (TASE: CEL) (hereinafter: the "Company") announced
today that following the previously reported network
sharing agreements with Golan Telecom Ltd., or Golan, which
are subject to the approvals of the Israeli Ministry of
Communications, or MOC, and the Israeli Antitrust
Commissioner, the MOC notified the Company and Golan that the
agreements require substantial changes before the MOC reviews
them in detail. The Company is studying the implications
of such requested changes and is working with Golan to implement
such changes in order to receive the MOC's approval to the
agreements.
For additional details see the Company's most recent annual
report for the year ended December 31,
2014 on Form 20-F, filed on March 16,
2015, 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. In recent
years, regulation in Israel has
materially adversely affected our results" and "We face intense
competition in all aspects of our business", and "Item 4.
Information on the Company – B. Business Overview – Network and
Technology - Network and Cell Sites Sharing Agreements" and
"Government Regulation – Network Sharing".
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 approval of such agreements are subject to
uncertainties and assumptions about the implications of the changes
requested by the MOC and the parties' ability to reach agreements
in relation thereof. The actual conditions the Company may face
could lead to materially different outcome than that set forth
above.
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is the largest Israeli
cellular provider; Cellcom Israel provides its approximately 2.967
million subscribers (as at December 31,
2014) with a broad range of value added services including
cellular and landline telephony, roaming services for tourists in
Israel and for its subscribers
abroad, additional services in the areas of music, video, mobile
office etc. and most recently - also television over the internet
service in Israel, based on
Cellcom Israel's technologically advanced infrastructure. The
Company operates an LTE 4 Generation and HSPA 3.5 Generation
networks 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
through its wholly owned subsidiaries internet connectivity
services and international calling services, as well as landline
telephone communication services, 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://www.cellcom.co.il
Company
Contact
|
Investor Relations
Contact
|
Shlomi
Fruhling
|
Ehud Helft
|
Chief Financial
Officer
|
GK Investor &
Public Relations In partnership with LHA
|
investors@cellcom.co.il
|
cellcom@GKIR.com
|
Tel: +972 52 998
9755
|
Tel: +1 617 418
3096
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/cellcom-israel-ltd-announces-moc-response-to-companys-network-sharing-agreements-with-golan-300057362.html
SOURCE Cellcom Israel Ltd.