Cellcom board approve NYSE offer

31 Oct 2006

The board of directors at Israel’s largest mobile operator Cellcom have approved plans to submit a confidential filing to the US Securities and Exchange Commission (SEC) ahead of a possible share offer on the New York Stock Exchange (NYSE). The filing is expected to take place in the coming days, according to Reuters. Cellcom said the size and details of the offer have not been determined and there is no guarantee it will take place. If the offering does go ahead, Cellcom’s majority shareholder Discount Investment Corp will sell part of its 78.5% stake.

Israel, Cellcom