NETANYA, Israel, Sept. 24, 2019 /PRNewswire/ -- Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) (hereinafter: the "Company") announced today that following its recently announced comprehensive restructuring plan for the Company, the Histadrut, the union representing the Company's employees sent the Company a labor dispute announcement. Under the announcement, the Company's employees would be entitled to take organizational steps (including a strike), as of October 10, 2019.
Notwithstanding the aforesaid, the employees' representatives commenced a sudden and unlawful strike encompassing the vast majority of the Company's operations. The Company intends to take all necessary measures in order to minimize adverse effects to the Company's operations but cannot assure their success. At this preliminary stage, the company is unable to assess the effects of the strike or other organizational steps.
For additional details, see the Company's annual report on Form 20-F for the year ended December 31, 2018 filed on March 18, 2019, or 2018 20-F, under ITEM 3. Key Information. - D. Risk Factors - "The unionizing of our employees may impede necessary organizational and personnel changes, result in increased costs or disruption to our operation" and Item 6. "Directors, senior management and employees – D. Employees" and the Company's current report on form 6-K dated September 23, 2019.
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is a leading Israeli communications group, providing a wide range of communications services. Cellcom Israel is the largest Israeli cellular provider, providing its approximately 2.745 million cellular subscribers (as at June 30, 2019) with a broad range of services including cellular telephony, roaming services for tourists in Israel and for its subscribers abroad, text and multimedia messaging, advanced cellular content and data services and other value-added 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. Cellcom Israel further provides OTT TV services, internet infrastructure and connectivity services and international calling services, as well as landline telephone services in Israel. 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.