Israel in Cellcom in Israel: Tase: CEL) sells its holds on fiber optic communications IBC (Tase: Phoe) and more investments. Cellcom follows the heat and the Israeli infrastructure fund, selling their stakes in IBC recently.
Sale completion for 520 million has a respected capital gain for Cellcom, because IBC’s investment cost has been recorded in IBC books in NIS 121 million. Cellcom holds 23% of the company’s fairness. The expected cash flow effect of cellcom statements is the amount of sales methods, tax net. In this way, the cellcom will reduce its net debt, which at the end of the first quarter stands at about 1.6 billion.
For years, Cellcom has the highest debt of Israeli companies, but the debt is in low trends at some time, and sales help facilitate the fashion. It is also expected that the ability to affect the cellcom capability to return to the distribution of a dividend to its counterparts, which at the first time distributing a division (bezeq (taseq) returned).
If the transaction to sell the parts is not completed within 10 months from the date of the agreement, any party can cancel it. In addition, the completion of the transaction is subject to agreement from the Ministry of Communications and other authorities.
Cellcom retain effort as a customer
A few weeks ago, the heat and Israel infrastructure (IFC) agreed to sell their IBC stake in a group consisting of an offer to sell the stake in Enture. The IBC Fiber Optic project, where cellcom invested in 2019, deployment of fiber optic infrastructure nationwide. The project is one of the two entities in the country who sends fiber, along bezeq. Cellcom is both about controlling the interests of this and its customers, and now expects to remain a customer, without a change in commercial terms. The project initially belonged to Israel’s electric company, holding 30% of its controlling interest.
At the same time, cellcoms choose the case that is newly filed against IBC, following a dispute with this obligation to buy services from the company. Cellcom admits that this obligation is to buy service from 15% of lines until 2 million households are connected, a goal that has been achieved, and no more. In other words, according to the case, Phoenix-added is based on a misdemeanor about cellcom commitment.
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Cellcom CEO Eli Adadi said, “The selling of cellcom of the IBC Fiber Project has prompted the company’s flow, while the purpose of maintaining company activities, with the purpose of maintaining our leadership in Israeli market.”
Cellcom sells a NIS 4.5 billion market cap after a 103% self-price increase in the previous year and the development of company’s consequences and the prospective communication market. The company’s controlled shareholder is the Fortissimo Fund, led by Yuval Cohen, which last year’s purchased investments in the discount (about 35% worth of 1.6 billion.
Published in Globes, Israel News in News – en.globes.co.il – On June 26, 2025.
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