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NETANYA, Israel, August 26, 2020 / PRNewswire / – Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) (hereinafter: the “Company”) announced today that, following its previous announcements related to a binding Memorandum of Understanding, or MOU, for the acquisition of Golan Telecom, o Golan, and approval of the transaction through the Israel Competition Authority and the Israeli Ministry of Communications, or MOC, the parties celebrated the acquisition of All of Golan’s percentage of capital, on the basis of the MOU, subject to secure amendments, for a total amount of approximately 545 million shekels plus an amount equivalent to the Golan’s money and the monetary equivalents on the final date and less any monetary debt , which was paid entirely through the Company to the golan’s percentage shareholders in cash.
In addition, as noted above, Golan’s MNO license has been replaced through an interim MVNO license, after Golan filed a bank guarantee with the MOC of approximately NIS 75 million, on request that Golan return secure financial benefits in the past. won from moC, which the Golan contests. Sellers will not be guilty of the final results of such dispute. For more details, please refer to the Company’s recent maximum annual report for the year ended December 31, 2019 on Form 20-F, filed on March 23, 2020, in “Point 4″. Company Information – A. Company History and Evolution – – Our history ” and the Company’s latest quarterly report for the quarter ended on June 30, 2020 on Form 6-K, filed on August 17, 2020, under “other advances of the quarter of the time of 2020 and after the notification period ended.”
About Cellcom Israel Cellcom Israel Ltd., Established in 1994, it is a leading Israeli communications group offering a wide variety of communications Array Cellcom Israel is the largest cellular service provider in Israel, offering its approximately 2,734 million cellular subscribers (as of June 30, 2020) with a wide diversity of Array adding cell phones, roaming for tourists in Israel and their subscribers abroad, messaging and multimedia. Array complex content and cellular knowledge and other aggregated values in the fields of music, video, cellular offices, etc., founded on Cellcom Israel’s technologically complex infrastructure. The Company operates a fourth generation LTE network and a 3.5-generation HSPA network for broadband multimedia complexes, in addition to GSM/GPRS/EDGE networks. Cellcom Israel provides Israel’s largest and largest visitor service infrastructure, adding visitor service telephone centers, retail stores, and service and sales centers across the country. Cellcom Israel also provides infrastructure and internet connectivity OTT tvArray and foreign callArray, as well as constant telephony in Israel. Cellcom Israel shares are traded on the New York Stock Exchange (CEL) and the Tel Aviv Stock Exchange (CEL).
For more information, visit the company’s online page http://investors.cellcom.co.il.
Business contact
Elad Levy [email protected] Relationship Manager Phone: 972-52-998-4774
Investor relations contact
Ehud Helft
GK Investor – Public Relations
Tel: 617 418 3096
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SOURCE Cellcom Israel Ltd.