NETANYA, Israel, January 16, 2018 /PRNewswire/ --
Cellcom Israel Ltd. (NYSE: CEL) (the "Company") reported today that Discount Investment Corporation Ltd., or DIC, its
indirect controlling shareholder, announced that it is examining the possibility of formulating an outline of a proposal for a
creditors arrangement in Eurocom Communications Ltd. and/or companies in the Eurocom group. DIC clarified it has not yet
formulated final principles for such a proposal and that there is no assurance that such a proposal will be made, among others,
due to various factors, some of which are not under DIC's control. DIC further clarified that if such proposal is made, approved
and implemented, it may, under certain conditions, have implications on DIC's holdings in the Company.
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, Internet infrastructure
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.
Company Contact:
Shlomi Fruhling
Chief Financial Officer
investors@cellcom.co.il
Tel: +972-52-998-9755
Investor Relations Contact:
Ehud Helft
GK Investor & Public Relations In partnership with LHA
cellcom@GKIR.com
Tel: +1-617-418-3096
SOURCE Cellcom Israel Ltd.