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Cellcom Israel Announces Netvision Agrees to Enter Merger Negotiations
NETANYA, Israel, March 22, 2011/PRNewswire-FirstCall/ -- Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) (hereinafter: the
"Company") announced today that following its previous announcement it has
approached Netvision Ltd., or Netvision, with a proposal to negotiate a
merger between the Company's subsidiary and Netvision, Netvision notified the
Company of its decision to enter such negotiations with the Company.
Consummation of the transaction is subject to various conditions and the
Company can provide no assurances that it will enter into any transaction.
For details on the proposed merger transaction with Netvision
and the conditions for its consummation see the Company's most recent annual
report on Form 20-F for the year ended December 31, 2010 under "Item 5.
Operating Results - Overview - Recent Developments".
About Cellcom
Cellcom Israel Ltd., established in 1994, is the leading
Israeli cellular provider; Cellcom Israel provides its approximately 3.394
million subscribers (as at December 31, 2010) with a broad range of value
added services including cellular and landline 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 HSPA 3.5
Generation network enabling advanced high speed broadband multimedia
services, in addition to GSM/GPRS/EDGE and TDMA 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 its customers technical support, account
information, direct to the door parcel services, internet and fax services,
dedicated centers for the hearing impaired, etc. As of 2006, Cellcom Israel,
through its wholly owned subsidiary Cellcom Fixed Line Communications L.P.,
provides landline telephone communication services in Israel, 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
Yaacov Heen
Chief Financial Officer
investors@cellcom.co.il
Tel: +972-52-998-9755
IR Contacts
Porat Saar & Kristin Knies
CCG Investor Relations Israel & US
cellcom@ccgisrael.com
Tel: +1-646-233-2161
Source: Cellcom Israel Ltd.
Company Contact, Yaacov Heen, Chief Financial Officer, investors@cellcom.co.il,
Tel: +972-52-998-9755; IR Contacts, Porat Saar & Kristin Knies, CCG Investor Relations Israel & US, cellcom@ccgisrael.com,Tel: +1-646-233-2161
Cellcom Israel Announces Netvision Agrees to Enter Merger Negotiations
NETANYA, Israel, March 22, 2011/PRNewswire-FirstCall/ -- Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) (hereinafter: the
"Company") announced today that following its previous announcement it has
approached Netvision Ltd., or Netvision, with a proposal to negotiate a
merger between the Company's subsidiary and Netvision, Netvision notified the
Company of its decision to enter such negotiations with the Company.
Consummation of the transaction is subject to various conditions and the
Company can provide no assurances that it will enter into any transaction.
For details on the proposed merger transaction with Netvision
and the conditions for its consummation see the Company's most recent annual
report on Form 20-F for the year ended December 31, 2010 under "Item 5.
Operating Results - Overview - Recent Developments".
About Cellcom
Cellcom Israel Ltd., established in 1994, is the leading
Israeli cellular provider; Cellcom Israel provides its approximately 3.394
million subscribers (as at December 31, 2010) with a broad range of value
added services including cellular and landline 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 HSPA 3.5
Generation network enabling advanced high speed broadband multimedia
services, in addition to GSM/GPRS/EDGE and TDMA 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 its customers technical support, account
information, direct to the door parcel services, internet and fax services,
dedicated centers for the hearing impaired, etc. As of 2006, Cellcom Israel,
through its wholly owned subsidiary Cellcom Fixed Line Communications L.P.,
provides landline telephone communication services in Israel, 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
Yaacov Heen
Chief Financial Officer
investors@cellcom.co.il
Tel: +972-52-998-9755
IR Contacts
Porat Saar & Kristin Knies
CCG Investor Relations Israel & US
cellcom@ccgisrael.com
Tel: +1-646-233-2161
Source: Cellcom Israel Ltd.
Company Contact, Yaacov Heen, Chief Financial Officer, investors@cellcom.co.il,
Tel: +972-52-998-9755; IR Contacts, Porat Saar & Kristin Knies, CCG Investor Relations Israel & US, cellcom@ccgisrael.com,Tel: +1-646-233-2161