Discount to sell 3% share of Cellcom

24 Sep 2007

Israeli cellco Cellcom has announced its controlling shareholder, Discount Investment Corp (DIC), plans to sell 2.9 million shares, or a 3% stake, to a financial institution. DIC said it will sell the shares for about USD70.6 million in cash to an unidentified purchaser who plans to sell the shares outside of the US to non-US investors. The sale will lower DIC’s stake in Cellcom to 56%.

Israel, Cellcom