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SOURCE Cellcom Israel Ltd.
NETANYA, Israel, January 16, 2014 /PRNewswire/ --
Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) (hereinafter: the "Company") announced today that the Israeli Ministry of Communications published its decision regarding the types of landline services that shall be offered through the wholesale landline market. In addition, the Ministry of Communications published a hearing regarding terms for the provision of certain wholesale landline services by Bezeq and Hot (the two operators owning full landline infrastructure in Israel) and the maximum prices it intends to set for certain wholesale services that shall be provided by Bezeq. The Company is studying the decision and hearing and at this stage cannot assess what will be the final outcome of the hearing and the influence of such decisions on the Company and its results of operation.
For additional details see the Company's most recent annual report on form 20-F for the year ended on December 31, 2012, filed on March 4, 2013 under "Item 3. Key Information - D. Risk Factors - Risks related to our business - "We operate in a heavily regulated industry, which can harm our results of operation. In recent years, regulation in Israel has materially adversely affected our results," "We face intense competition in all aspects of our business," and "- Risks related to our wholly owned subsidiary Netvision - changes in the regulatory environment could adversely affect Netvision's business," as well as under "Item 4. Information on the Company - B. Business Overview - Competition," "- Government Regulation - Tarriff Supervision" and under "NETVISION - ISP Business - Competition" and " NETVISION - Telephony Business - Competition" and its current report on the Company's results of operation for the second quarter of 2013 (on form 6-K) dated August 19, 2013 under "Other developments during the second quarter of 2013 and subsequent to the end of the reporting period - Regulation."
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is the leading Israeli cellular provider; Cellcom Israel provides its approximately 3.156 million subscribers (as at September 30, 2013) with a broad range of value added services including cellular and landline 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 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 its customers technical support, account information, direct to the door parcel delivery services, internet and fax services, dedicated centers for the hearing impaired, etc. In August 2011, Cellcom Israel completed the acquisition of Netvision Ltd. 013 Netvision Ltd., its wholly owned subsidiary, is a leading Israeli provider of internet connectivity services and international calling services. Cellcom Israel, through its wholly owned subsidiaries also provides landline telephone communication services in Israel, in addition to data communication 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://www.cellcom.co.il
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