Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) said it is publishing its intention to review the possible purchase of holdings in Golan Telecom Ltd., an Israeli mobile network operator and competitor of the company, following an invitation by Bank Rothschild, representing Golan Telecom´s shareholders.
There is no assurance that the company will make an offer to purchase Golan Telecom nor as to the execution of such a sale. Finally, the company can provide no assurances as to the impact of this sale, and any potential sale of holdings in, or assets of, Golan, on the parties´ agreements or the competitive environment in the market.
For additional details regarding the company´s agreements with Golan Telecom Ltd., see the company´s most recent annual report for the year ended December 31, 2014 on Form 20-F, filed on March 16, 2015, under “Item 3. Key Information – D. Risk Factors – Risks Related to our Business -“We face intense competition in all aspects of our business” and “Item 4. Information on the company – B. Business Overview – Network and Technology – Network and Cell Sites Sharing Agreements”, “Competition – Cellular” and “Government Regulation – Network Sharing” and “- Additional MNOs” and the company´s current report regarding the company´s results of operations in the second quarter of 2015, on form 6-K, dated May 14, 2015 under “Other Developments During the First Quarter of 2015 and Subsequent to the End of the Reporting Period – Network Sharing Agreements”.
Cellcom Israel Ltd., established in 1994, is the largest Israeli cellular provider.