NETANYA, Israel, Feb. 6, 2020 /PRNewswire/ -- Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) (hereinafter: the "Company") announced today that following the Company's previous reports regarding a frequencies migration the Company shall be required to execute by March 2021, to accord to European standards, the Ministry of Communications, or MOC, notified the Company that it is considering the following alternative to its previous instruction: The Company's current 2x10 850MHZ frequencies will be reduced and replaced with other 2x5 MHz 850MHZ frequencies no later than May 31, 2020; at a later date to be determined, the Company will be awarded 2x5 MHz in the 800 frequencies; at a later date to be determined, the aforesaid 850MHz and 800MHz frequencies will be replaced with other 2x10 MHz in the 800 frequencies. The MOC will further consider allocating partial 800MHz or 900 MHz frequencies tender revenues, if such tenders are executed, to expedite such frequencies replacement. The MOC may further allocate to the Company additional frequencies for limited periods during the transition period. The proposed alternative may result in an adverse effect on our cellular service quality and our ability to comply with quality standards set in our license and may have an adverse effect on our results of operations.
For additional details see the Company's annual report the year ended December 31, 2018 on Form 20-F dated March 18, 2019 under "Item 3. Key Information – D. Risk factors – Risks related to our business - We operate in a heavily regulated industry, which can harm our results of operations, Regulation in Israel has materially adversely affected our results," "- We may not be able to obtain permits to construct and operate cell sites" and "-We may be adversely affected by significant technological and other changes in the telecommunications industry" and "Item 4. Information on the Company –B. Business Overview – Network and Infrastructure – Cellular Segment- Cellular Infrastructure--Spectrum allocation" and "- Government Regulation – Cellular Segment - Permits for Cell Site Construction."
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is the largest Israeli cellular provider; Cellcom Israel provides its approximately 2.767 million cellular subscribers (as at September 30, 2019) 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, internet infrastructure and connectivity services and international calling services, as well as landline telephone communications services in Israel, in addition to data communications 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.