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Cellcom Israel Announces Developments Re Purchase Of Golan Telecom

Cellcom Israel Ltd. (CEL) (CEL.TA) (the "Company") announced it is publishing this press release since the Company's controlling shareholder will report this information under its Israeli reporting obligations: Following previous reports regarding its agreement for the purchase of Golan Telecom Ltd., or Golan Telecom's, share capital, or SPA, which has not received regulatory approvals: (1) the Company has agreed to allow Golan Telecom (as an exception to its "no shop" obligation) to conduct negotiations with two third parties (which are not active MNOs), for a possible purchase of Golan Telecom's share capital or operations or a part thereof, subject to certain conditions, including a prior consensual termination or update of the SPA to reflect any such agreement. In addition, the Company is conducting negotiations with those third parties for a future collaboration. The Company cannot estimate the results of any of the abovementioned negotiations and whether such negotiations shall mature into an agreement; and (2) the Company has filed a petition against the...


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