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

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.

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