Welcome to our dedicated page for CEL news (Ticker: CEL), a resource for investors and traders seeking the latest updates and insights on CEL stock.
Cellcom Israel Ltd. (CEL) is an Israeli communications group and cellular provider whose public disclosures frequently focus on corporate governance and shareholder matters. News about the company often centers on announcements of annual, special, and extraordinary general meetings of shareholders convened in Netanya, Israel, reflecting decisions that affect its communications business and capital structure.
In these announcements, Cellcom Israel outlines agendas that can include discussion of audited annual financial statements and the board of directors’ report, appointment or reappointment of independent auditors, and election or reappointment of directors and external directors. Other items reported in the news include approvals of compensation policies for officers, updates to the terms of office and employment of the company’s chief executive officer, one-time special grants for the CEO, and approvals of indemnity and exemption letters for office holders.
Investors and observers following CEL news can also find updates related to changes in the company’s Articles of Association and procedural details for shareholder participation. The company’s releases describe record dates for voting, the use of voting cards, electronic voting options for unregistered shareholders, and instructions for shareholders whose holdings are recorded through the TASE clearinghouse or through members of the Depositary Trust Company and the company’s U.S. transfer agent.
This news page aggregates such company-issued announcements so readers can review the history of Cellcom Israel’s shareholder meetings, governance decisions, and related procedures. For those tracking developments in the Israeli wireless telecommunications sector, these items provide context on how the company manages its governance, compensation policies, and formal decision-making processes over time.
Cellcom Israel Ltd. (NYSE: CEL) announced a private offering of additional Series L debentures, receiving orders for approximately NIS 744 million. The company accepted orders for NIS 400 million subject to TASE's approval. Each debenture is priced at NIS 977 with an effective interest of 3.55% per annum. The net proceeds will be used for general corporate purposes. The offering is directed only at residents of Israel and is not registered under U.S. Securities Act.
Cellcom Israel Ltd. (NYSE: CEL) announced the resignation of Ms. Diana Ingrid Elsztain-Dan as a director and the termination of Mr. Saul Zang's nomination as an alternate director. These changes are effective immediately, following the court's approval for the sale of the controlling stake in Discount Investment Corporation Ltd. to investors led by Mega Or Holdings Ltd. The Company has provided additional details in their annual report and other recent filings.
Cellcom Israel Ltd. (NYSE: CEL) announced plans to prepare for a potential private offering of additional debentures from its existing Series L Debentures for an aggregate principal amount of approximately NIS 300 - 400 million, exclusively to institutional investors in Israel. Standard & Poor's Maalot reaffirmed a negative ilA rating for this potential offering. The timing, terms, and execution of the offering are yet to be determined and require further board approval. The offering will not be registered under U.S. Securities Act and won't be sold in the United States.
Cellcom Israel reported a 3% year-over-year revenue increase for Q3 2020, totaling NIS 956 million ($278 million). Despite the growth, the company faced a loss of NIS 373 million and a 14.8% drop in Adjusted EBITDA to NIS 231 million ($67 million) due to the ongoing impact of the COVID-19 pandemic, particularly on roaming revenues. Equipment revenues grew by 19.2% to NIS 261 million, while service revenues fell by 2% to NIS 695 million. The quarter also marked the consolidation of Golan Telecom's results and the company’s entry into a partnership with HOT for fiber optic infrastructure expansion.
Cellcom Israel Ltd. (NYSE: CEL) announced that a court approved the sale of approximately 82% of its indirect controlling shareholder, Discount Investment Corporation Ltd. (DIC), to a group led by Mega Or Holdings Ltd. This sale follows previous appointments of receivers for DIC’s shares, pledged to debenture holders of IDB Development Corporation Ltd. Approval from the Israeli Ministry of Communications is required for this transfer of control. The Company will report further developments as they occur.
Cellcom Israel Ltd. (NYSE: CEL) announced that its cellular sharing network partner, Marathon 018 Xfone Ltd., failed to make the required payment due on October 31, 2020, under their sharing network agreement. The company has demanded immediate payment and will take measures to enforce its rights. Currently, Cellcom cannot assess the impact of this situation on its financial results. The network sharing agreements are significant to the company's revenue, as detailed in its 2019 annual report.
Cellcom Israel Ltd. (NYSE: CEL) will release its financial results for Q3 2020 on November 23, 2020. A conference call will take place at 9:00 am Eastern Time to discuss the results, with management available for questions. Interested participants can join via various dial-in numbers, including US: 1-888-642-5032 and International: +972-3-918-0609. The call will be broadcast live on the company's investor relations website, where a replay will also be available afterward.
On October 15, 2020, Cellcom Israel Ltd. (NYSE: CEL) reported that the Ministry of Communications has approved the appointment of receivers for shares of its indirect controlling shareholder, Discount Investment Corporation Ltd. (DIC). These shares represent approximately 70% of DIC's capital. Additionally, a court has approved the appointment of permanent receivers and a temporary receiver for another 12% of DIC's shares. The receivers will also publish an invitation for offers to purchase the pledged shares. The company will continue to update on material developments.
Cellcom Israel Ltd. (NYSE: CEL) announced the appointment of Ilan Sigal as VP of business development and CEO of Golan Telecom, effective February 1, 2021. Sigal brings extensive experience, having previously served as VP marketing at Pelephone and held key marketing roles at Bezeq International. As of June 30, 2020, Cellcom had approximately 2.734 million cellular subscribers, providing a variety of services including cellular telephony, internet connectivity, and OTT TV services. This leadership change aims to strengthen the company's strategic direction and business growth.
Cellcom Israel Ltd. (NYSE: CEL) announced court actions regarding its indirect controlling shareholder, Discount Investment Corporation Ltd. (DIC). Debenture holders of IDB Development Corporation Ltd. filed motions for the appointment of a receiver for DIC's pledged shares to enforce debt repayment. The court appointed temporary receivers for these shares, and further actions await Ministry of Communications’ approval. Additionally, an order for IDB's liquidation has been granted. Cellcom Israel, a leading communications provider, serves approximately 2.734 million cellular subscribers as of June 30, 2020.