Cellcom Israel Ltd. (NYSE: CEL) (the "Company") announced today that a purported class action lawsuit filed against the Company, in April 2007, was dismissed with prejudice on February 18, 2008. The plaintiffs claimed that the Company raised its tariffs unlawfully and in violation of its license, in pricing plans that include a commitment to purchase certain services for a fixed period.
Had the dismissed lawsuit been certified as a class action, the amount claimed from the Company was estimated by the plaintiffs to be approximately NIS 230,550,000.
For details in regards to a similar outstanding purported class action see note 3(A)(1) to our Financial Statement as at September 30, 2007 filed on Form 6-K on November 8, 2007.
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is the leading Israeli cellular provider; Cellcom Israel provides its 3 million subscribers 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).