Cellcom Israel, Ltd.NYSE
Mon, Oct. 10, 12:00 PM
- Cellcom Israel (CEL +2.8%) is pushing back against actions by Golan Telecom over the two companies' roaming agreement as legal matters heat up.
- Golan sued Cellcom, looking for a declaration that it doesn't owe Cellcom past national roaming payment differences (600M shekels plus VAT), Cellcom says, and that it intends to vigorously act to dismiss Golan's action.
- Cellcom also says Golan informed it that Golan will pay 10.6M shekels instead of an agreed-upon 21M shekels for national roaming. Cellcom will pursue legal action to reclaim that consideration.
Mon, Sep. 26, 7:21 PM
- Cellcom (CEL -4.2%) today wrapped a public tender of debentures that it announcd yesterday.
- The telecom got offers for about 1.2B shekels (about $320.2M) worth, and accepted only "a portion" of the offers.
- Final pricing came to about 103M shekels of series J debentures at 2.45% interest, sold at par value (and linked to the Israeli CPI); and about 304M shekels of Series K debentures, at 3.55% interest, sold at par.
- Total net consideration to Cellcom is about 402.97M shekels ($107.5M).
Thu, Sep. 22, 10:28 AM
- Cellcom Israel (CEL -1.3%) says that one of the two third parties interested in a purchase of Golan Telecom has withdrawn from that intention.
- Cellcom had entered a network sharing and hosting agreement with Marathon 018 Xfone, one of the suitors for Golan. The other -- a "group of investors" -- has notified Cellcom that it's out of the action.
- The network sharing agreement -- expected to be worth 220M-250M shekels a year -- will likely be signed with whomever finally purchases Golan Telecom.
Mon, Sep. 19, 10:56 AM
- Cellcom Israel (CEL +0.1%) has postponed an extraordinary general meeting that was scheduled for Wednesday.
- The company says it will hold it at a later date as it intends to further update its compensation policy.
- Meanwhile, a purported class action filed against Cellcom and two other defendants in December has been dismissed, Cellcom says. The action alleged that Cellcom and others unlawfully offered prepaid calling cards at high prices by coordinating those prices among them.
Wed, Sep. 14, 2:45 PM
- Israeli telecoms have been hit with a purported class action suit charging them with levying excessive and unreasonable prices for calling out of Israel.
- In separate confirmations, each of Cellcom (CEL -0.6%), Partner Communications (PTNR +0.8%) and Bezeq (OTCPK:BZQIY +0.8%) said it and "two other" telecoms were targets of the action.
- The plaintiffs haven't estimated what damages might be, and the action filed in the Central District Court is still in a preliminary stage.
Mon, Sep. 12, 11:00 AM
- Israel's Partner Communications (PTNR +0.5%) is heading into the TV service market early next year and taking steps accordingly.
- The move's in line with a broader telecom strategy it's pursuing, the company says. It had discussed plans to follow competitor Cellcom (CEL +2.5%) and get into TV back in February, when it cut ties to France's Orange and rebranded its services under its own name.
- Partner expects that Israeli government agencies will keep working to remove barriers in broadcasting. Cellcom launched a pay TV/VOD service in December 2014.
Mon, Sep. 12, 10:37 AM
- Having not yet gotten regulatory approval for its purchase of Golan Telecom, Cellcom Israel (CEL +2.5%) has agreed to an exception to a "no shop" provision to let Golan negotiate with a couple of third parties for a deal.
- Cellcom is negotiating with those parties as well, over a possible future collaboration.
- Cellcom had offered $300M to acquire Golan but ran into opposition from Israeli regulators. It and Golan have filed petitions against a decision by the Ministry of Telecommunications not to approve the share purchase agreement between the two.
Mon, Aug. 22, 2:46 PM
- Cellcom (CEL -1%) is readying a potential public offering of new debentures.
- The board has told the company to prepare the offering, which would be available in Israel only, but it hasn't set timing, terms or amount.
- It has published a draft indenture similar to the company's existing Series G and Series H debentures.
- At last report, the company had $1B in debt against $332M in cash.
Wed, Aug. 10, 1:34 PM
- Cellcom Israel (NYSE:CEL) is up 3.7% after posting Q2 net income that more than tripled from a year ago in an environment of lower expenses.
- Revenue shrank slightly, though. EBITDA rose 10% to 238M shekels (about $62M), beating an expected 219M shekels. EBITDA margin rose to 23.1%.
- Revenue by segment: Cellular, NIS784M (down 3.2%); Fixed-line, NIS294M (up 4.6%).
- The cellular subscriber base came to about 2.812M subscribers by quarter's end. TV customer base increased by 12,000 households to bring that total to 87,000.
- Free cash flow was 103M shekels (about $27M), down 13.4%.
- Earnings slides
- Call transcript
- Press Release
Wed, Aug. 10, 2:13 AM
Mon, Aug. 8, 11:45 AM
- Cellcom Israel (CEL -0.6%) says a class action suit that included its subsidiary Netvision has been dismissed.
- The suit against Netvision and others ended at the request of the plaintiff. It had alleged that another defendant had unlawfully sold private customer data to Netvision and others.
- The suit (had it been certified as a class action) was seeking 1,000 shekels (about $261.53) for each customer involved -- estimated by the plaintiff at about 1.5M customers, for a total liability of 1.5B shekels (about $392.3M).
Thu, Jul. 21, 10:36 AM
- Cellcom Israel (NYSE:CEL) has taken a sharp turn into the red in U.S. trading, down 1%, following news that it got a temporary injunction it sought in the quest to acquire Golan Telecom.
- The injunction freezes an agreement signed by Golan Telecom and Hot Mobile, which Cellcom argued violated its agreement to acquire Golan.
- Cellcom will deposit a bond of 200K shekels to cover damages in case the court rules for Golan.
- Also today in Israel telecom: PTNR -2.5%; OTCPK:BZQIY -0.9%; BCOM -0.9%.
Tue, Jul. 12, 3:00 PM
Tue, Jul. 12, 9:43 AM
- Israel has blocked a network sharing deal between Golan Telecom and cable provider Hot (OTCPK:ATCEY) over licensing issues. Telecom Market leader Cellcom (NYSE:CEL) has opened up to a 9.2% gain.
- Earlier, Cellcom had announced it was taking legal action against Golan to the tune of 900M shekels (about $232M), charging that the hosting agreement between Hot and Golan violated Golan's own agreements with Cellcom.
- Israel's Communications Ministry says Hot's license doesn't allow it to host other operators. Earlier this spring it had blocked Cellcom's own $300M offer to buy Golan, which has been piggybacking on Cellcom networks for service.
- Meanwhile, Cellcom has separately announced a network sharing/hosting deal with Xfone, which has yet to enter the cellular market.
Mon, Jun. 13, 3:20 PM
Mon, May 23, 1:32 PM
- Cellcom Israel (NYSE:CEL) is up 2.8% in U.S. trading after Q1 results where its net income more than doubled, though service sales declined.
- EBITDA of 238M shekels (about $63M) was up 21.4% Y/Y (up 5.3% excluding a one-time expense). EBITDA margin grew to 23.3% from 18.5%. There was "continued erosion" in service revenues, though national roaming and TV services revenues grew.
- Revenue breakout: Service revenues, 774M shekels (559M cellular, 264M fixed-line, -49M adjustments); Equipment revenues, 248M shekels (219M cellular, 29M fixed-line).
- It added about 11,000 Cellcom TV households to bring that total to 75,000; cellular subscriber base was about 2.813M at quarter's end.
- Free cash flow grew 17.3% to 149M shekels.
- Press Release