Cellcom Israel Announces Class Action Settlement Agreement Approved

NETANYA, Israel, March 8, 2020 /PRNewswire/ -- Cellcom Israel Ltd. (NYSE: CEL) (the "Company") announced today the previously reported settlement agreement filed with the court in February 2017, in relation to a purported class action filed against the Company in 2015, was approved by the court. The plaintiffs claimed compensation for non-monetary damages in a total amount of NIS 15 billion, in connection with allegations that the Company unlawfully violated the privacy of its subscribers and unlawfully was enriched by so doing. The settlement shall not have a material effect on the Company's financial statements.

For additional details see our most recent annual report on form 20-F for the year ended December 31, 2018, under "Item 8. Financial Information ? A. Consolidated statements and other financial information - Legal Proceedings General ? Purported Class Actions".

About Cellcom Israel

Cellcom Israel Ltd., established in 1994, is a leading Israeli communications group, providing a wide range of communications services. Cellcom Israel is the largest Israeli cellular provider, providing its approximately 2.767 million cellular subscribers (as at September 30, 2019) with a broad range of services including cellular telephony, roaming services for tourists in Israel and for its subscribers abroad, text and multimedia messaging, advanced cellular content and data services and other value-added services in the areas of music, video, mobile office etc., based on Cellcom Israel's technologically advanced infrastructure. The Company operates an LTE 4 generation network and 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. Cellcom Israel further provides OTT TV services, internet infrastructure and connectivity services and international calling services, as well as landline telephone services in Israel. 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://investors.cellcom.co.il.

SOURCE Cellcom Israel Ltd.