According to the Israeli business newspaper Globes, Goldman Sachs will sell its 4% stake in wireless network operator Cellcom in or around August. The investment bank’s stake is worth a reported NIS440 million (USD104 million). Cellcom floated on the New York Stock Exchange in February at USD20 per share, at the upper limit of the offering range. After a dip in the share to below the IPO price in April, the share price has since recovered and now reflects a 33% return on investment.
In an announcement of its own, Cellcom has completed its first ad-funded mobile games service, powered by innerActive technology. The new service showed results a click-through-rate of 44% and a 19% acquisition rate for mobile advertising campaigns. The value added infotainment service offers subscribers free game downloads, sponsored by top brands such as Nokia, McDonalds, Diadora, Samsung, Adidas and Walt Disney. Interactive advertising agencies such as McCann Digital, Saatchi & Saatchi, BBDO and nextin participated in the month-long pilot. ‘The new model used in the trial has proved to be effective and feasible to all the players. We succeeded to promote thousands of new users, that are not heavy gamers, to consume and enjoy games,’said Adi Cohen, VP Marketing of Cellcom. ‘The advertising/marketing stimulus trial confirms its effectiveness to all parties that took part in this project. This mobile advertising is working and shows far-reaching consequences for the mobile industry.’