Cellcom Israel Announces Dismissal Of Request For Injunction Against The Company's Network Sharing Agreement With Electra

NETANYA, Israel, Feb. 12, 2017 /PRNewswire/ -- Cellcom Israel Ltd. (NYSE: CEL) (the "Company") announced today that the district court dismissed the previously reported Marathon 018 Xfone Ltd., or Xfone's request for an interim injunction against the completion and execution of the Company's network sharing and hosting agreement with Electra Consumer Products Ltd., or the Electra Agreement, at the request of the parties. The parties agreed in principle to make certain modifications to the Company and Xfone's July 2016 network sharing and hosting agreement, or the Xfone Agreement, in line with the Electra agreement, as well as provide Xfone with certain annual discounts for immaterial amounts. This agreement in principle is subject to finalization and negotiation of definitive documentation. Both the Electra and Xfone Agreements await regulatory approvals.

For additional details see the Company's current reports on Form 6-K dated August 10, 2016 (under "Other developments during the second quarter of 2016 and subsequent to the end of the reporting period –Agreement with Xfone"), November 14, 2016 (under "Other developments during the third quarter of 2016 and subsequent to the end of the reporting period – Network Sharing with Xfone"), January 3, 2017 and January 31, 2017.

About Cellcom Israel

Cellcom Israel Ltd., established in 1994, is the largest Israeli cellular provider; Cellcom Israel provides its approximately 2.822 million cellular subscribers (as at September 30, 2016) 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. 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 technical support, account information, direct to the door parcel delivery services, internet and fax services, dedicated centers for hearing impaired, etc. Cellcom Israel further provides OTT TV services (as of December 2014), internet infrastructure (as of February 2015) and connectivity services and international calling services, as well as 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://investors.cellcom.co.il/

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SOURCE Cellcom Israel Ltd.