Cellcom denies sale rumor
The mobile carrier denies rumors that controlling shareholder Nochi Danker held preliminary with David Azrieli about a sale.
8 July 12 12:16, Globes’ correspondent

Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) today denied rumors that controlling shareholder Nochi Danker held preliminary with David Azrieli about a sale of the mobile carrier. David Azrieli’s Azrieli Group Ltd. (TASE: AZRG) also denied the rumors.
Dankner controls Cellcom through IDB Holding Corp. Ltd. (TASE:IDBH) holding company Discount Investment Corporation (TASE: DISI).
Cellcom and Israel’s mobile carriers is in the midst of a price war, ignited by the launch of new mobile carriers and mobile virtual network operators (MVNO). The company’s share price has more than halved since the beginning of the year, as new regulations and competition have hit the carrier’s revenue and profits. Last week, the carrier announced new all-inclusive price plans for subscribers.
Cellcom’s share rose 8.7% by midday on the TASE today to NIS 26.63, after rising 2.4% on the New York Stock Exchange on Friday to $6.94, giving a market cap of $690 million. Discount Investment’s share price rose 2.2% to NIS 6.52, giving a market cap of NIS 553 million, and IDB Holding’s share price rose 0.4% to NIS 13.06, giving a market cap of NIS 600 million.
Published by Globes [online], Israel business news – www.globes-online.com – on July 8, 2012