Fortissimo Capital Fund VI, L.P., managed by Fortissimo Capital Management Ltd. entered into a non-binding memorandum of understanding to acquire 35.57% stake in Cellcom Israel Ltd. from Discount Investment Corporation Ltd. for approximately ILS 930 million.

Fortissimo Capital Fund VI, L.P., managed by Fortissimo Capital Management Ltd. entered into a non-binding memorandum of understanding to acquire 35.57% stake in Cellcom Israel Ltd. (TASE:CEL) from Discount Investment Corporation Ltd. (TASE:DISI) for approximately ILS 930 million on December 5, 2023. The parties signed the definitive agreement on December 18, 2023. Transaction is subject to receiving the approvals of the Ministry of Communications, the Electricity Authority and the Commissioner for Competition.

As on April 3, 2024, The approval of the competition commissioner for the aforementioned transaction was received. DSKSH reported the deadline for the fulfillment of the conditions pending in the transaction was extended by an additional 60 days and the completion of the transaction is subject to receiving the approval of the Ministry of Communications, which has not yet been received.