Cellcom Israel Announces Israeli Minister of Communications Approval for Hot Group to Join IBC
USA - English
Share this article
Share this article
NETANYA, Israel, Feb. 8, 2021 /PRNewswire/ Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) (hereinafter: the Company ) announced today that following its previous announcement regarding an investment transaction between the Company, the Israel Infrastructure Fund and Hot Telecommunication Systems Ltd. in IBC Israel Broadband (2013) Ltd., or IBC, the Israeli Minister of Communications, or MOC, granted its approval for the transaction, which completes the regulatory approvals and changes required for the completion of the transaction. The MOC s approval includes certain amendments to IBC s license, including an obligation to reach 1.7 million households within 5 years, substantially in line with the investment agreement, and an obligation to provide a shelf proposal to any operator interested in purchasing its services. The completion o
Cellcom Israel Announces Israeli Competition Commissioner Approval for Hot Group to Join IBC
USA - English
Share this article
Share this article
NETANYA, Israel, Jan. 20, 2021 /PRNewswire/ Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) (hereinafter: the Company ) announced today that following its previous announcement regarding an investment transaction between the Company, the Israel Infrastructure Fund and Hot Telecommunication Systems Ltd. in IBC Israel Broadband (2013) Ltd., the Israeli Competition Commissioner granted its approval for the transaction. The completion of the transaction is subject to certain conditions, including the approval of the Israeli Ministry of Communications, or MOC, and regulatory changes, which are yet to be met. The Company cannot guarantee such changes will be made and approval will be granted.