Cellcom Israel Announces Sale Of Appx. 0.93% Of Its Issued Share Capital

(RTTNews) - Cellcom Israel Ltd. (CEL) announced that employees and members of senior management of the company have entered into agreements to sell an aggregate of 933,348 shares of the company, constituting approximately 0.93% of the its issued share capital, to financial institutions.

The company said the shares had been issued to such employees and senior management upon their exercise of vested options granted by the company under its 2006 Share Incentive Plan. The sale is scheduled to be completed today, August 17, 2014.

The company understands that the purchasers intend to place such shares for sale outside the United States to non-US investors.