Mobile carrier Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL), controlled by Nochi Dankner's IDB Holding Corp. Ltd. (TASE:IDBH), today denied media reports that it was up for sale.
In a statement, Cellcom said, "Its controlling shareholder has notified it that contrary to rumors in the media regarding an offer supposedly made to a third party to purchase the company, the company is not up for sale. The company provides this information at the request of IDB, its controlling shareholder, in connection with certain debt arrangements for IDB. The company is providing such information today only in light of this request from its controlling shareholder, but otherwise does not expect to comment on market rumors, consistent with its normal policy."
Cellcom is referring to media reports that Golan Telecom Ltd., owned by Xavier Niel, was interested in acquiring the company.
Cellcom also published preliminary results for the second quarter at IDB's request. It predicts a net profit of NIS 55-65 million on NIS 1.22-1.24 billion revenue, including NIS 990 million to NIS 1.01 billion services revenue. It also predicts free cash flow of NIS 340-345 million, and average revenue per user (ARPU) of NIS 77.50-79.50 per month for the quarter.
Published by Globes [online], Israel business news - www.globes-online.com - on July 30, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013