No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Thursday, October 9, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

Cellcom sells stake in fiber optic cable co IBC

by TheAdviserMagazine
4 months ago
in Business
Reading Time: 3 mins read
A A
Cellcom sells stake in fiber optic cable co IBC
Share on FacebookShare on TwitterShare on LInkedIn


Israeli telecom company Cellcom (TASE: CEL) is selling its holdings in the fiber optic communications company IBC (Unlimited) to Phoenix Financial (TASE: PHOE) and the More Investment House. Cellcom is following in the wake of Hot and the Israel Infrastructure Fund, which have sold their stakes in IBC recently.

Completing the sale for NIS 520 million will produce a respectable capital gain for Cellcom, because the cost of the investment in IBC is recorded in Cellcom’s books at NIS 121 million. Cellcom holds 23% of the company’s equity. The expected cash flow impact on Cellcom’s statements will be the amount of the sale proceeds, net of tax. In this way, Cellcom will be able to reduce its net debt, which at the end of the first quarter stood at about NIS 1.6 billion.

Over the years, Cellcom has had the highest debt among Israeli telecom companies, but the debt has been on a downward trend for some time, and the sale will help accelerate the trend. The move is also expected to affect Cellcom’s ability to return to distributing a dividend to its shareholders, for the first time in over a decade, similar to telecom rival Partner (TASE: PTNR), which recently returned to distributing a dividend (Bezeq (TASE: BZEQ) returned earlier).

If the transaction to sell the shares is not completed within 10 months from the date of the agreement, either party may cancel it. In addition, completion of the transaction is subject to approval from the Ministry of Communications and other authorities.

Cellcom will remain in the venture as a customer

A few weeks ago, Hot and Israel Infrastructure Fund (IFC) agreed to sell their stake in IBC to a group consisting of Phoenix and Mor Investment House, and Cellcom also received an offer to sell its stake in the venture. The IBC fiber optic project, in which Cellcom invested in 2019, is deploying fiber optic infrastructure throughout the country, mainly for use by private customers. The project is one of two entities in the country deploying fiber, alongside Bezeq. Cellcom is both part of the controlling interest in it and its customer, and is now expected to remain a customer, with no change in the commercial terms. The project originally belonged to the Israel Electric Company, which still holds 30% of the controlling interest in it.

At the same time, Cellcom plans to continue the lawsuit it recently filed against IBC, following a dispute over its obligation to purchase services from the company. Cellcom claims that its obligation is to purchase service from 15% of the lines until 2 million households are connected, a goal that has already been achieved, and nothing more. In other words, according to the lawsuit, the Phoenix-More acquisition is based on a misrepresentation regarding Cellcom’s commitment.





RELATED ARTICLES




IBC Unlimited fiber optic cables to reach 2m homes


Fortissimo signs agreement to buy Cellcom






Cellcom CEO Eli Adadi said, “The sale of Cellcom’s holdings in the IBC fiber project is a significant move for the company and another step in the strategic plan we are promoting to improve its profitability, reduce debt and increase cash flow, while focusing on the company’s core activities, with the aim of maintaining our leadership in Israel’s communications market.”

Cellcom is traded on the TASE at a market cap of NIS 4.5 billion after a 103% increase in its share price over the past year, due to the improvement in the company’s own results and the improved sentiment in the communications market in general. The controlling shareholder in the company is the Fortissimo Fund, headed by Yuval Cohen, which last year purchased Discount Investments’ holdings in the company (about 35% of the capital) for NIS 936 million, and today the value of its holdings is already worth roughly NIS 1.6 billion.

Published by Globes, Israel business news – en.globes.co.il – on June 26, 2025.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.




Source link

Tags: cableCellcomfiberibcopticsellsstake
ShareTweetShare
Previous Post

Federal judge wants Kilmar Abrego Garcia released

Next Post

GBP/USD Hits Multi-Year High as Fed Independence Faces Doubt and Ceasefire Holds

Related Posts

edit post
Global peace hopes ignite ‘everything rally’ across assets, says Anurag Singh

Global peace hopes ignite ‘everything rally’ across assets, says Anurag Singh

by TheAdviserMagazine
October 9, 2025
0

As global markets cheer the recent signs of geopolitical stability, investors appear to be embracing an “everything rally,” says Anurag...

edit post
The Nordic approach to business builds empowerment, team spirit and engagement. But can you copy it? 

The Nordic approach to business builds empowerment, team spirit and engagement. But can you copy it? 

by TheAdviserMagazine
October 9, 2025
0

Nordic countries are known for being happy, with high incomes, robust welfare support and easy access to nature. Finland, Denmark,...

edit post
Fixed income set to perform well amid limited easing room, says Churchil Bhatt

Fixed income set to perform well amid limited easing room, says Churchil Bhatt

by TheAdviserMagazine
October 8, 2025
0

In the latest discussion on monetary policy and market trends, Churchil Bhatt, Executive Vice President – Investment at Kotak Mahindra...

edit post
Israel and Hamas agree end to Gaza Strip war

Israel and Hamas agree end to Gaza Strip war

by TheAdviserMagazine
October 8, 2025
0

President Trump: I am very proud that Israel and Hamas have both signed off on the first Phase of our...

edit post
Saratoga Investment outlines 6.8M in liquidity and maintains alt=

Saratoga Investment outlines $406.8M in liquidity and maintains $0.75 dividend amid competitive market (NYSE:SAJ)

by TheAdviserMagazine
October 8, 2025
0

Seeking Alpha's Disclaimer: The earnings call insights are compilations of earnings call transcripts and other content available on the Seeking...

edit post
A whopping 72% of S&P 500 companies disclosed AI as a ‘material risk’ on their 10-Ks this year

A whopping 72% of S&P 500 companies disclosed AI as a ‘material risk’ on their 10-Ks this year

by TheAdviserMagazine
October 8, 2025
0

AI is everywhere these days—and that means so is AI risk. Among S&P 500 companies, 72% mentioned AI as a material...

Next Post
edit post
GBP/USD Hits Multi-Year High as Fed Independence Faces Doubt and Ceasefire Holds

GBP/USD Hits Multi-Year High as Fed Independence Faces Doubt and Ceasefire Holds

edit post
How to escape taxes on your stocks

How to escape taxes on your stocks

  • Trending
  • Comments
  • Latest
edit post
What Happens If a Spouse Dies Without a Will in North Carolina?

What Happens If a Spouse Dies Without a Will in North Carolina?

September 14, 2025
edit post
Pennsylvania House of Representatives Rejects Update to Child Custody Laws

Pennsylvania House of Representatives Rejects Update to Child Custody Laws

October 7, 2025
edit post
Does a Will Need to Be Notarized in North Carolina?

Does a Will Need to Be Notarized in North Carolina?

September 8, 2025
edit post
DACA recipients no longer eligible for Marketplace health insurance and subsidies

DACA recipients no longer eligible for Marketplace health insurance and subsidies

September 11, 2025
edit post
Tips to Apply for Mental Health SSDI Without Therapy

Tips to Apply for Mental Health SSDI Without Therapy

September 19, 2025
edit post
Raymond James sues to retrieve dead advisor’s laptop

Raymond James sues to retrieve dead advisor’s laptop

September 11, 2025
edit post
OPEC+ Nears Its Limit, Leaving Prices One Crisis Away from a Spike

OPEC+ Nears Its Limit, Leaving Prices One Crisis Away from a Spike

0
edit post
4 Unconventional Retirement Strategies From Robert Kiyosaki

4 Unconventional Retirement Strategies From Robert Kiyosaki

0
edit post
Global peace hopes ignite ‘everything rally’ across assets, says Anurag Singh

Global peace hopes ignite ‘everything rally’ across assets, says Anurag Singh

0
edit post
Economic Justice, Desert, and Capitalism (Again)

Economic Justice, Desert, and Capitalism (Again)

0
edit post
BNB Price Soars 5%, Leapfrogs XRP, Tether As 3rd-Largest Crypto

BNB Price Soars 5%, Leapfrogs XRP, Tether As 3rd-Largest Crypto

0
edit post
Hospital Transfers Can Include Hidden Fees If You Don’t Read the Fine Print

Hospital Transfers Can Include Hidden Fees If You Don’t Read the Fine Print

0
edit post
4 Unconventional Retirement Strategies From Robert Kiyosaki

4 Unconventional Retirement Strategies From Robert Kiyosaki

October 9, 2025
edit post
Economic Justice, Desert, and Capitalism (Again)

Economic Justice, Desert, and Capitalism (Again)

October 9, 2025
edit post
Global peace hopes ignite ‘everything rally’ across assets, says Anurag Singh

Global peace hopes ignite ‘everything rally’ across assets, says Anurag Singh

October 9, 2025
edit post
The Nordic approach to business builds empowerment, team spirit and engagement. But can you copy it? 

The Nordic approach to business builds empowerment, team spirit and engagement. But can you copy it? 

October 9, 2025
edit post
ZunZeno – How The US Govt Used Social Media To Spur Social Unrest In Cuba

ZunZeno – How The US Govt Used Social Media To Spur Social Unrest In Cuba

October 9, 2025
edit post
Fixed income set to perform well amid limited easing room, says Churchil Bhatt

Fixed income set to perform well amid limited easing room, says Churchil Bhatt

October 8, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • 4 Unconventional Retirement Strategies From Robert Kiyosaki
  • Economic Justice, Desert, and Capitalism (Again)
  • Global peace hopes ignite ‘everything rally’ across assets, says Anurag Singh
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.