Cellcom Israel Announces Israeli Minister of Communications Approval for Hot Group to Join IBC USA - English Share this article Share this article NETANYA, Israel, Feb. 8, 2021 /PRNewswire/ -- Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) (hereinafter: the "Company") announced today that following its previous announcement regarding an investment transaction between the Company, the Israel Infrastructure Fund and Hot Telecommunication Systems Ltd. in IBC Israel Broadband (2013) Ltd., or IBC, the Israeli Minister of Communications, or MOC, granted its approval for the transaction, which completes the regulatory approvals and changes required for the completion of the transaction. The MOC's approval includes certain amendments to IBC's license, including an obligation to reach 1.7 million households within 5 years, substantially in line with the investment agreement, and an obligation to provide a "shelf proposal" to any operator interested in purchasing its services. The completion of the transaction is expected to occur in the coming days. The Company shall report the completion of the transaction once it occurs.