Private equity fund Fortissimo Capital (Fortissimo Capital Management Ltd.) is negotiating to buy a controlling share of Israeli telecom group Cellcom Israel Ltd. (TASE:CEL) from Discount Investment Corporation Ltd. (TASE:DISI), according to a regulatory filing in Tel Aviv on December 5, 2023. Discount said that it has entered a non-binding agreement to sell Fortissimo its 35.6% stake in Cellcom for ILS 925 million ($249 million), valuing the company at ILS 2.6 billion. Its stake is currently worth ILS 793 million.

Fortissimo has two weeks to carry out due diligence and a final deal would be subject to regulatory approvals, Discount said.