Cellcom Israel enters hosting services agreement with Xfone

Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) has entered a 4G network sharing and 2G and 3G hosting services agreement with Marathon 018 Xfone Ltd., which was awarded 4G frequencies in the 2015 frequencies tender, and hasn´t entered the cellular market yet, the company said.

The company said the agreement is expected to advance cellular infrastructure in Israel and guarantee continued investments in the development of 4G network, in compliance with regulation requirements.

The agreement is for a term of 10 years commencing from the earlier of the commercial launch of cellular services by Xfone, and will not impact the company´s current agreements with Golan Telecom.

Cellcom Israel Ltd. provides serves 2.813 million cellular subscribers with telephony, roaming and high-speed broadband multimedia services.