Cellcom Israel Announces Dismissal Of A Purported Class Action
Grupo Iusacell DE Cv (NYSE:CEL)
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NETANYA, Israel, November 19, 2012 /PRNewswire/ --
Cellcom Israel Ltd. (NYSE: CEL) (the "Company") announced today the dismissal of a purported class action lawsuit filed against the Company and another cellular operator in March 2010, at the plaintiffs' request. The purported class action was filed in connection with allegations that the defendants breached their cellular license by failing to purchase insurance against monetary liability which the defendants may suffer due to bodily damages that allegedly may be caused by cellular radiation. If the lawsuit was certified as a class action, the total amount claimed was estimated by the plaintiffs to be approximately NIS 4.2 billion, out of which NIS 2.1 billion was attributed to the Company individually.
For additional details see the Company's Consolidated Financial Statements for the year ended December 31, 2011, under "Note 31 - Contingent Liabilities - section 2.b.", on Form 20-F.
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is the leading Israeli cellular provider; Cellcom Israel provides its approximately 3.338 million subscribers (as at September 30, 2012) 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. Cellcom Israel operates an HSPA 3.5 Generation network enabling advanced high speed broadband multimedia services, in addition to GSM/GPRS/EDGE 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 technical support, account information, direct to the door parcel delivery services, internet and fax services, dedicated centers for the hearing impaired, etc. Cellcom Israel further provides through its wholly owned subsidiaries internet connectivity services and international calling services, as well as 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://www.cellcom.co.il
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SOURCE Cellcom Israel Ltd.