Discount Investment unloads 3.36% stake in Cellcom

12 Dec 2008

According to Israeli holding company Discount Investments has divested 2.3 million shares in Israeli mobile operator Cellcom. The stake sale saw the holding company transfer a 2.34% in the cellco to an unnamed financial institution. A second sale was swiftly announced for a further 1.02%. In total the sale raised ILS285.5 million (USD73.2 million). Having completed the sale Discount Investments now owns just 47.9% of Cellcom. The holding group has stated however that it views the mobile operator as a long-term strategic investment and it is expected to retain control of the company.

Israel, Cellcom