Cellcom says it's not for sale, preliminary Q2 results released

|About: Cellcom Israel, Ltd. (CEL)|By:, SA News Editor

The carrier says its controlling shareholder (IDB Holding) has made it known Cellcom isn't for sale. Globes reported yesterday Golan Telecom is "seriously considering" a bid.

Cellcom's (CEL -3.4%) Q2 revenue fell to NIS1.22B-1.24B ($342M-$347M) from 1.498B. Service revenue fell to 990M-1.01B from 1.182B.

In spite of the revenue drops, free cash flow rose to NIS340M-345M from 284M.

ARPU rose slightly Q/Q to NIS77.5-79.5 from 75.9, but was still down sharply from last year's 90.3, as intense price competition continues taking a toll.