Cellcom Israel Announces Purported Class Action Filed Against the Company's Subsidiary
NETANYA, Israel, Feb. 19, 2012 /PRNewswire/ -- Cellcom Israel Ltd. (NYSE: CEL) (the "Company") announced that a purported class action lawsuit was filed against Netvision, a wholly owned subsidiary of the Company, and certain other long distance Israeli operators, in the District Court of Tel Aviv-Jaffa, by a plaintiff alleging that the defendants misled the purchasers of prepaid cards for international calls in relation to certain bonus minutes.
The total amount claimed from Netvision (and from each of the other defendants), if the lawsuit is certified as a class action, is estimated by the plaintiff to be at least NIS 2.7 billion.
At this preliminary stage, Netvision is unable to assess the lawsuit's chances of success.
For additional details regarding a similar purported class action, filed against the defendants in 2008, approved to be tried as a class action in November 2010 in relation to certain prepaid cards and appealed by the defendants see the Company's current report on the Company's results of operations in the third quarter of 2011 on Form 6-K, filed on November 15, 2011, under the financial statements as at September 30, 2011- Note 8(4).
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is the leading Israeli cellular provider; Cellcom Israel provides its approximately 3.391 million subscribers (as at September 30, 2011) 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 advanced high speed broadband multimedia services, 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. As of 2006, Cellcom Israel, through its wholly owned subsidiary Cellcom Fixed Line Communications L.P., provides 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 www.cellcom.co.il
SOURCE Cellcom Israel Ltd.