Cellcom Israel in Negotiations to Purchase Golan Telecom

Cellcom Israel Ltd. is in negotiations with Golan Telecom, shareholders in regards to possible purchase of their holdings in Golan Telecom. The Company cannot guarantee that such discussions will mature into a transaction.

Cellcom Israel Ltd., established in 1994, is an 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).

Golan Telecom was established in 2012, Golan was the first company to bring Israel the "all-inclusive" revolution through packages that include unlimited calls and messages and the greatest volume of browsing. Over the course of its existence, Golan Telecom has repeatedly persevered to bring better and more affordable packages to the Israeli consumer and continue to challenge competitors in the telecoms space.

Today, Golan Telecom is the leading low cost company in the mobile market, serving 900,000 subscribers, most of them in the private sector, who enjoy the most affordable packages in Israel.

Golan Telecom was founded in 2012 by Michael Golan and other investors from France, including Garbier Niall of the Free French shop owners. In April 2017, Golan Telecom was purchased by Electra Consumer Products from the Elco Group.

Golan Telecom has also partnered with Cellcom through a network sharing agreement signed between the companies in April 2017. As part of the cooperation agreement, Golan Telecom partnered with Cellcom in equal parts of the cellular network established by Cellcom.