Cellcom Israel Ltd. Announces Developments Re. Controlling Shareholder
NETANYA, Israel, Nov. 22, 2020 /PRNewswire/ -- Cellcom Israel Ltd. (NYSE: CEL) (the "Company") announced today that following its previous announcements regarding receivers appointed to the controlling shares of its indirect controlling shareholder, Discount Investment Corporation Ltd., or DIC, pledged in favor of debenture holders of IDB Development Corporation Ltd., the court approved the receivers' motion to sell the pledged DIC shares representing approximately 82% of DIC's share capital to a group of investors led by Mega Or Holdings Ltd., subject to further approvals as may be required by law. Pursuant to the Company's licenses such transfer of control requires the approval of the Israeli Ministry of Communications which is yet to be provided.
For additional details see the Company's current reports on Form 6-K dated September 23 and 27, 2020 and October 15, 2020.
The Company shall continue to report material developments, as and to the extent such developments occur.
About Cellcom Israel
For additional information please visit the Company's website http://investors.cellcom.co.il.
SOURCE Cellcom Israel Ltd.