Key Developments: Cellcom Israel Ltd (CEL.N)

CEL.N on New York Stock Exchange

27 Feb 2015
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Latest Key Developments (Source: Significant Developments)

Cellcom Israel Ltd announces filing of purported class action
Wednesday, 19 Nov 2014 05:40am EST 

Cellcom Israel Ltd:Says that a purported class action was filed against the company and another cellular operator recieving hosting services from the company.By plaintiffs alleging to be subscribers of the defendents, claiming compensation for non monetary damages in connection with allegations that the defendents, unlawfully and in violation of their license and their agreement with their subscribers.Failed to provide service to their subscribers during the previously reported network malfunction that the defendents suffered on Nov. 6.Total amount claimed from the defendents, if the lawsuit is certified as class action is estimated by the plaintiff to be about NIS 72 mln, of which about NIS 60 mln is attributed to the company.At this early stage the company cannot assess the lawsuit's chances of success.  Full Article

Cellcom Israel Ltd announces updated network sharing agreements
Monday, 22 Sep 2014 02:03am EDT 

Cellcom Israel Ltd:Says following the previously reported network sharing agreements , and the israeli ministry of communications requirements regarding network sharing, the company entered the following agreements.Says the parties' existing 2G and 3G IRU agreement and 4G network sharing agreement were updated, generally for a period of at least 10 years;.and include stipulations as to ownership and mutual IRU rights in the 4G radio equipment as well as the establishment of a Joint Venture for the joint operation of the 4G radio network.Says the company and Pelephone Communications entered a co-operation agreement regarding maintenance services for passive elements of cell sites, including unifying passive elements and streamlining costs, through a common contractor.Says the contractor to be selected by RFP process will enter a separate agreement with each of the company and Pelehpone, generally for a period of at least 5 years.  Full Article

Cellcom Israel Ltd announces results of debenture offering in Israel
Tuesday, 8 Jul 2014 01:27am EDT 

Cellcom Israel Ltd:Says public tenders for its series H and series I debentures, previously announced on July 6 have been concluded.Received offers for about 1.2 bln Israeli Shekel total consideration and accepted only portion of these offers.Final pricing information relating to the public offering is as follows about NIS 106 mln principal amount of Series H debentures at an interest rate of 1.98 pct per annum, linked to the Israeli Consumer Price Index, or CPI.Series will be sold at par value (1,000 Israeli Shekel per unit); about 223 mln Israeli Shekel principal amount of Series I debentures at an interest rate of 4.14 pct per annum, without linkage.Series will be sold at par value (1,000 Israeli Shekel per unit).Total net consideration to be received by the Company is about 326 mln Israeli Shekel.Closing of the offering is expected to occur on July 8-9, 2014.  Full Article

Cellcom Israel Ltd announces filing of supplemental shelf offering report in Israel
Sunday, 6 Jul 2014 05:47am EDT 

Cellcom Israel Ltd:Says that, following the company's previously announced possible debt raising in Israel, the company filed supplemental shelf offering report, or offering report, with Israel Securities Authority and Tel Aviv Stock Exchange, or TASE.Pursuant to offering report, the company is offering, in Israel only, new series H debentures in aggregate principal amount of up to 125 mln Israeli shekels, and new series I debentures in aggregate principal amount of up to 275 mln Israeli shekels.Intends to use net proceeds from offering for general corporate purposes, which may include financing its operating and investment activity, refinancing of outstanding debt under its debentures, and dividend distributions.  Full Article

Cellcom Israel Ltd announces filing of shelf prospectus in Israel in preparation for debt offering in Israel
Monday, 23 Jun 2014 06:18am EDT 

Cellcom Israel Ltd:Board of Directors has instructed company to prepare for potential offering of two new series of debentures to public in Israel only, in an aggregate principal amount of up to about 300-400 mln Israeli shekels.Company published shelf prospectus and an indenture relating to such shelf prospectus, or New Indenture, after having received Israeli Securities Authority, or ISA, and Tel Aviv Stock Exchange, or TASE, approvals.  Full Article

Cellcom Israel Ltd partners with Vasona Networks for better app performance when mobile data traffic overloads cells
Friday, 20 Jun 2014 08:00am EDT 

Cellcom Israel Ltd:Says its work with Cellcom to improve mobile broadband performance.Wisconsin-based operator has deployed both the Vasona SmartAIR 1000 edge application controller and SmartVISION analysis suite to gain real-time visibility of network congestion and improve the overall mobile broadband experience when cells are overloaded.During periods of congestion, Cellcom realizes more than 30 percent improved bitrate performance for video and web browsing, and a 35 percent reduction in mobile service latency.  Full Article

Cellcom Israel Ltd announces preparations to raise debt in Israel
Monday, 2 Jun 2014 08:30am EDT 

Cellcom Israel Ltd:To commence preparations for raising debt by offering to the public, in Israel only, two new series of debentures.  Full Article

Cellcom Israel Ltd entered network sharing agreement with Golan Telecom Ltd
Sunday, 25 May 2014 01:46pm EDT 

Cellcom Israel Ltd:Under agreement Golan will be provided an Indefeasible right of use, or IRU, to Co's future 4G radio network, generally for at least 5 years and 9 months and for as long as it is used by company.Each of company and Golan will provide required frequencies for operation of 4G radio network and purchase and operate their own core network.Agreement is subject to Antitrust Commissioner and Ministry of Communications' approvals to both this Agreement and to parties' previous agreement under which Golan is provided an IRU to Co's 2G and 3G radio networks, or 2G 3G IRU agreement.Annual revenues to company from both IRU agreements, if approved, are expected to be at similar level to those generated from parties' existing national roaming agreement in 2013.  Full Article

Cellcom Israel Ltd decides not to declare a cash dividend
Wednesday, 14 May 2014 02:26am EDT 

Cellcom Israel Ltd:Decides not to declare a cash dividend for the first quarter of 2014.  Full Article

Cellcom Israel announces dismissal of purported class action filed against the company
Wednesday, 2 Apr 2014 06:52am EDT 

Cellcom Israel Ltd:Announced that further to the company's report dated November 2011 regarding a purported class action filed against the company.Says alleging that the Company raised tariffs for business customers unlawfully and in violation of its agreements with them, the purported class action was dismissed with prejudice.  Full Article

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