FORM
6-K
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
For May
22, 2008
Commission
File Number: 001-33271
CELLCOM
ISRAEL LTD.
10
Hagavish Street
Netanya,
Israel 42140
________________________________________________
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.
Form 20-F
__X__ Form
40-F _____
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1):
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7):
Indicate
by check mark whether the registrant by furnishing the information contained in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _____ No
__X__
If “Yes”
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): Not
Applicable
CELLCOM
ISRAEL LTD. ANNOUNCES SALE OF 1.95% OF ITS ISSUED SHARE
CAPITAL
BY CONTROLLING SHAREHOLDER
Netanya, Israel – May 22, 2008 – Cellcom Israel Ltd. (“Company”)
(NYSE: CEL) announced today that Discount Investment Corporation Ltd. (“DIC”),
its controlling shareholder, has announced that it has entered today into an
agreement to sell 1,900,000 shares of the Company, constituting approximately
1.95% of the Company’s issued share capital, for a total consideration of
approximately NIS 216 million (subject to a certain contingent increase of the
consideration) in cash to a financial institution and that the purchaser has
informed DIC of its intention to place such shares for sale outside the United
States to non-US investors. The agreement further provides that DIC will not
dispose of the Company’s shares during 55 days following the closing date,
unless DIC obtained the consent of the said financial institution purchaser. The
sale is scheduled to be completed today, following which DIC will hold
approximately 50.65% of the Company’s issued share capital.
The shares
have not been and will not be registered under the U.S. Securities Act of
1933. Accordingly, the shares may not be offered or sold in the United
States
DIC also
notified the Company that it views its holding in the Company as a long term
investment, and intends to continue to control the Company. Such intention is
subject to future circumstances including conditions in the capital markets and
DIC's investment strategy.
About Cellcom
Israel
Cellcom
Israel Ltd., established in 1994, is the leading Israeli cellular provider;
Cellcom Israel provides its 3.096 million subscribers (as at March 31, 2008)
with a broad range of value added services including cellular and landline
telephony, roaming services for tourists in Israel and for its subscribers
abroad and additional services in the areas of music, video, mobile office etc.,
based on Cellcom Israel's technologically advanced infrastructure. The Company
operates an HSPA 3.5 Generation network enabling the fastest high speed content
transmission available in the world, in addition to GSM/GPRS/EDGE and TDMA
networks. Cellcom Israel offers Israel's broadest and largest customer service
infrastructure including telephone customer service centers, retail stores, and
service and sale centers, distributed nationwide. Through its broad customer
service network Cellcom Israel offers its customers technical support, account
information, direct to the door parcel services, internet and fax services,
dedicated centers for the hearing impaired, etc. In April 2006 Cellcom Israel,
through Cellcom Fixed Line Communications L.P., a limited partnership
wholly-owned by Cellcom Israel, became the first cellular operator to be granted
a special general license for the provision of landline telephone communication
services in Israel, in addition to data communication services. Cellcom Israel's
shares are traded both on the New York Stock Exchange (CEL) and the Tel Aviv
Stock Exchange (CEL).
For
additional information please visit the Company's website
http://investors.ircellcom.co.il
|
Company
Contact
Shiri
Israeli
Investor
Relations Coordinator
investors@cellcom.co.il
Tel:
+972 52 998 9755
|
Investor Relations
Contact
Ehud
Helft / Ed Job
CCGK
Investor Relations
ehud@gkir.com
/ ed.job@ccgir.com
Tel:
(US) 1 866 704 6710 / 1 646 213
1914
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