Cellcom Announces Dismissal Of Request For Injunction Against Electra Deal

(RTTNews) - Cellcom Israel Ltd. (CEL) said that the district court dismissed the previously reported Marathon 018 Xfone Ltd., or Xfone's request for an interim injunction against the completion and execution of the Company's network sharing and hosting agreement with Electra Consumer Products Ltd., or the Electra Agreement, at the request of the parties.

The parties agreed in principle to make certain modifications to the Company and Xfone's July 2016 network sharing and hosting agreement, or the Xfone Agreement, in line with the Electra agreement, as well as provide Xfone with certain annual discounts for immaterial amounts. This agreement in principle is subject to finalization and negotiation of definitive documentation. Both the Electra and Xfone Agreements await regulatory approvals.