Israeli ministry opposed to Golan Telecom purchase

Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) said that the Israeli Antitrust Commissioner and the Ministry of Communications are opposing the proposed purchase of Golan Telecom Ltd. by Cellcom.

The arguments for the decisions are yet to be provided. The company will consider its options after receiving and reviewing the arguments for the decisions.

For additional details in regards to the proposed agreement for the purchase of Golan Telecom, see the company´s most recent annual report for the year ended December 31, 2015 on Form 20-F, filed on March 21, 2016, under “Item 3 Key Information – D. Risk Factors – Risks Related to the Proposed Acquisition of Golan Telecom Ltd.” and under “Item 4. Information on the company – B. Business Overview – General – Agreement for the Purchase of Golan” and its current report on Form 6-K date March 28, 2016.

Cellcom Israel, established in 1994, provides its approximately 2.835 million cellular subscribers (as at December 31, 2015) 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.