STOCK TITAN

CEL - CEL STOCK NEWS

Welcome to our dedicated page for CEL news (Ticker: CEL), a resource for investors and traders seeking the latest updates and insights on CEL stock.

Cellcom Israel Ltd. (TASE: CEL) is a leading Israeli telecommunications company headquartered in Netanya, Israel. The company provides a broad range of telecommunications services, including cellular, internet, and fixed-line telephony services, to both individual and business customers. Founded in 1994, Cellcom Israel has established itself as a key player in the Israeli market.

The company's core business focuses on offering advanced mobile network services, with a significant market share in Israel's highly competitive telecom sector. Cellcom Israel is also actively involved in providing broadband internet services, IPTV, and other value-added services, making it a comprehensive service provider.

Recently, Cellcom Israel has been working on several noteworthy projects and achievements. In their latest annual general meeting held on November 15, 2023, the company discussed the audited financial statements for the year ending December 31, 2022. The meeting also included the reappointment of key directors and the appointment of KOST FORER GABBAY & KASIERER, a member of Ernst & Young, as the company's independent auditors. Additionally, the company announced a one-time special grant for the CEO, highlighting its commitment to recognizing executive contributions.

Financially, Cellcom Israel is focused on maintaining a robust balance sheet and sustainable growth. The company has been transparent with its shareholders, regularly providing updates and holding general meetings to discuss important matters. For example, the next scheduled meeting is on June 20, 2024, where various topics, including special grants and financial decisions, will be addressed.

Cellcom Israel has also formed strategic partnerships to enhance its service offerings and technological capabilities. By leveraging these partnerships, the company aims to stay at the forefront of innovation within the telecommunications industry.

For shareholders and potential investors, Cellcom Israel represents a stable investment opportunity in the dynamic telecommunications sector. The company's commitment to innovation, customer satisfaction, and financial transparency makes it a significant entity in the Israeli market.

Rhea-AI Summary

Cellcom Israel Ltd. (NYSE: CEL) announced that its cellular sharing network partner, Marathon 018 Xfone Ltd., failed to make the required payment due on October 31, 2020, under their sharing network agreement. The company has demanded immediate payment and will take measures to enforce its rights. Currently, Cellcom cannot assess the impact of this situation on its financial results. The network sharing agreements are significant to the company's revenue, as detailed in its 2019 annual report.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
Rhea-AI Summary

Cellcom Israel Ltd. (NYSE: CEL) will release its financial results for Q3 2020 on November 23, 2020. A conference call will take place at 9:00 am Eastern Time to discuss the results, with management available for questions. Interested participants can join via various dial-in numbers, including US: 1-888-642-5032 and International: +972-3-918-0609. The call will be broadcast live on the company's investor relations website, where a replay will also be available afterward.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
Rhea-AI Summary

On October 15, 2020, Cellcom Israel Ltd. (NYSE: CEL) reported that the Ministry of Communications has approved the appointment of receivers for shares of its indirect controlling shareholder, Discount Investment Corporation Ltd. (DIC). These shares represent approximately 70% of DIC's capital. Additionally, a court has approved the appointment of permanent receivers and a temporary receiver for another 12% of DIC's shares. The receivers will also publish an invitation for offers to purchase the pledged shares. The company will continue to update on material developments.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
Rhea-AI Summary

Cellcom Israel Ltd. (NYSE: CEL) announced the appointment of Ilan Sigal as VP of business development and CEO of Golan Telecom, effective February 1, 2021. Sigal brings extensive experience, having previously served as VP marketing at Pelephone and held key marketing roles at Bezeq International. As of June 30, 2020, Cellcom had approximately 2.734 million cellular subscribers, providing a variety of services including cellular telephony, internet connectivity, and OTT TV services. This leadership change aims to strengthen the company's strategic direction and business growth.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
management
-
Rhea-AI Summary

Cellcom Israel Ltd. (NYSE: CEL) announced court actions regarding its indirect controlling shareholder, Discount Investment Corporation Ltd. (DIC). Debenture holders of IDB Development Corporation Ltd. filed motions for the appointment of a receiver for DIC's pledged shares to enforce debt repayment. The court appointed temporary receivers for these shares, and further actions await Ministry of Communications’ approval. Additionally, an order for IDB's liquidation has been granted. Cellcom Israel, a leading communications provider, serves approximately 2.734 million cellular subscribers as of June 30, 2020.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
Rhea-AI Summary

Cellcom Israel Ltd. (NYSE: CEL) announced that its controlling shareholder, Discount Investment Corporation Ltd. (DIC), faces immediate repayment demands from debenture holders of IDB Development Corporation Ltd. DIC is pledging its shares to IDB debenture holders and seeking court intervention to enforce these pledges. This situation arises under the Israeli Bankruptcy and Economic Rehabilitation Law, 2018. Potential impacts on Cellcom may involve challenges in capital access and operational continuity depending on the outcomes of the ongoing legal motions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
Rhea-AI Summary

Cellcom Israel Ltd. (NYSE: CEL) announced an investment transaction with Hot Telecommunication Systems Ltd. to enhance IBC Israel Broadband's fiber-optic network. Under the agreement, Hot will become an equal partner in the IBC Partnership, indirectly holding 23.3% of IBC's share capital. This partnership aims for substantial network deployment over the coming years. The completion is subject to regulatory approvals. Additionally, IBC will continue purchasing services from Cellcom. These developments highlight Cellcom's strategic positioning within the telecommunications market.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
Rhea-AI Summary

Cellcom Israel Ltd. (NYSE: CEL) has appointed Shai Amsalem as CFO, effective September 13, 2020, along with Eran Shenar and Diana Elsztein-Dan as Board members from September 14, 2020. Amsalem previously served as CFO at Golan Telecom and has an extensive background in finance. Shenar, nominated by employees, brings experience as a business consultant. Elsztain-Dan has held several directorships and is linked to the company’s controlling shareholder. These leadership changes may provide new strategic directions for Cellcom, affecting its operational and financial outlook.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
management
-
Rhea-AI Summary

Cellcom Israel Ltd. (NYSE: CEL) has successfully completed the acquisition of Golan Telecom's entire share capital for approximately NIS 545 million, subject to adjustments based on Golan's cash position and debts. This transaction follows the approval from the Israeli Competition Authority and the Ministry of Communications. Golan's license has been converted to an MVNO for an interim phase, pending a financial dispute regarding benefits received from the Ministry. This acquisition could enhance Cellcom's market position and service offerings in Israel.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
Rhea-AI Summary

Cellcom Israel Ltd. (NYSE: CEL) announced that the Israeli Ministry of Communications has approved the purchase of Golan Telecom, following a binding memorandum of understanding and prior approval from the Israeli Competition Authority. The transaction is subject to certain conditions that Cellcom is currently evaluating. This acquisition could enhance Cellcom's position in the competitive Israeli telecommunications market, aiming to expand its customer base and service offerings.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none

FAQ

What services does Cellcom Israel Ltd. provide?

Cellcom Israel Ltd. offers mobile network services, broadband internet, IPTV, and fixed-line telephony services.

When is the next general meeting for Cellcom Israel Ltd.?

The next general meeting is scheduled for June 20, 2024, at 15:00 PM (Israel time).

Who are the key directors of Cellcom Israel Ltd.?

Key directors include Nataly Mishan Zakai (Chairman), Gustavo Traiber (independent director), Michael Joseph Salkind, Baruch Itzhak, and Samy Backlash.

Where can I view the financial statements of Cellcom Israel Ltd.?

The financial statements can be viewed on the Magna distribution website and the Tel-Aviv Stock Exchange Ltd. website.

What recent financial actions has Cellcom Israel Ltd. taken?

Recently, the company approved a one-time special grant for the CEO and reappointed its independent auditors.

How can shareholders vote in general meetings?

Shareholders can vote through the Electronic Voting System or by delivering voting cards and necessary documents to the company's offices.

What is Cellcom Israel Ltd.'s market position?

Cellcom Israel Ltd. is a leading player in the Israeli telecommunications market, offering a wide range of services to both individuals and businesses.

How does Cellcom Israel Ltd. maintain financial transparency?

The company regularly updates its shareholders through general meetings and publishes audited financial statements.

What technological advancements is Cellcom Israel Ltd. pursuing?

Cellcom Israel Ltd. is actively enhancing its service offerings through strategic partnerships and continuous innovation.

Where is Cellcom Israel Ltd. headquartered?

Cellcom Israel Ltd. is headquartered at 10 Ha'gavish Street, Netanya, Israel.

CEL

NYSE:CEL

CEL Rankings

CEL Stock Data

Wireless Telecommunications Carriers (except Satellite)
Information
Link
Israel
P O Box 4060