Cellcom Israel

Chris Bryant told the House of Commons Business and Trade Committee there was a 'very strong' moral and legal case for banning trade linked to Israeli settlements, that sanctions legislation could be the legal basis, and that restrictions should extend beyond goods to services, naming financial, legal and property-related activities connected with settlements. Cellcom is listed by the UN under activity (e), the provision of services and utilities supporting the maintenance and existence of settlements.

Cellcom's investor relations library holds the periodic report for 2025, published 16 June 2026, the fourth-quarter 2025 financial and operational results and company presentation published 18 March 2026, and the first-quarter 2026 results and English company presentation published 20 May 2026. The primary corporate record for the figures cited on this page.

Yvette Cooper told the House of Commons that the Government, jointly with the Department for Business and Trade, had strengthened its business risk guidance to make clear that 'if you are a British citizen or business, you should not conduct any economic and financial activities in illegal Israeli settlements'. The statement also announced a fourth sanctions package targeting settler violence networks and a request to the Charity Commission to investigate UK charities linked to settlements.

Full-year revenue of NIS 4,244 million in 2025 against NIS 4,444 million in 2024 and NIS 4,398 million in 2023, with net income of NIS 564 million in 2025 against NIS 173 million in 2024. Trailing twelve-month revenue to March 2026 was NIS 4,145 million with net income of NIS 576 million. Market capitalisation of about NIS 5.37 billion and a dividend yield above 7%. The 2025 profit jump reflects the one-off gain on the IBC disposal rather than trading performance; revenue fell 4.5%.

Israel's Communications Ministry approved the equipment needed to upgrade Palestinian cellular networks in the occupied West Bank from 3G to 4G, with rollout expected within six months, under a 2022 framework agreement delayed by the war on Gaza. Jawwal and Ooredoo, the Palestinian mobile operators, signed management agreements with Ericsson. Palestinian operators had been confined to 3G since 2018; Gaza remains on 2G. Israeli operators including Cellcom sell 5G across the same territory. As of August 2026 no source we could find confirms the Palestinian 4G rollout has gone live.

Cellcom is among the 104 businesses screened in the DBIO coalition's fifth report, researched by Profundo with a foreword by Francesca Albanese. Inclusion required documented involvement evidenced in the UN, Who Profits or AFSC Investigate databases, evidence less than two years old, and an existing financial relationship with at least one European financial institution. DBIO V identifies 1,115 European financial institutions with relationships to these businesses, USD 310 billion in loans and underwriting between January 2023 and August 2025, and USD 1,503 billion in shares and bonds held at 31 August 2025. Copy hosted by the coalition member Al-Haq.

Cellcom Israel Ltd. appears at entry 33 of Annex I, listed for activities (e) and (g): the provision of services and utilities supporting the maintenance and existence of settlements, including transport, and the use of natural resources, in particular water and land, for business purposes. The 2025 update lists 158 businesses after assessing 215, adding 68 and removing 7. OHCHR received submissions naming 596 companies and cited resource constraints for reviewing only 215; non-listing means out of scope or not yet reviewed, never cleared. The database expressly excludes Gaza and the occupied Syrian Golan from its mandate, so Cellcom's antennas in those territories fall outside what the listing covers.

The Commission concluded that Israel has committed genocide against Palestinians in the Gaza Strip, finding that four of the five acts of genocide defined in the Genocide Convention were committed. The finding is confined to Gaza.

Cellcom agreed to sell its 23% holding in the fibre company IBC to Phoenix Financial and the More Investment House for NIS 520 million against a book cost of NIS 121 million, producing a pre-tax gain of about NIS 400 million booked in the fourth quarter of 2025. The transaction completed on 31 October 2025. Globes records that Cellcom's share price had risen 103% over the preceding year to a market capitalisation of about NIS 4.5 billion, and that the proceeds would cut net debt of about NIS 1.6 billion and support a return to dividends for the first time in over a decade.

The primary field record. Documents at least 167 active Cellcom cellular antennas in the occupied West Bank, occupied East Jerusalem and the occupied Syrian Golan as of January 2025, across more than sixty settlements and including a mast at the Allenby Bridge; a licence from the Israeli Civil Administration to provide cellular services in the occupied West Bank valid until 2032, held since 2001, with a second held by the wholly owned subsidiary Golan Telecom since 2016; February 2024, January 2023 and January 2022 contracts from Israel's Minister of Construction and Housing as sole supplier on exemption from tender for infrastructure works in eight named settlements, worth NIS 5 million, NIS 7 million and NIS 10 million; a July 2023 Israel Land Authority award, also without tender, for a communications facility in Pisgat Ze'ev in occupied East Jerusalem; the September 2024 Ministry of Defense cellular tender worth over NIS 40 million across three years; a 2023 six-year tender to supply internet to Israeli military bases; management of the military's Microsoft Azure public cloud platform and WIFI Campus; a Cellcom antenna established in the Netzarim Corridor in Gaza during 2024 and another documented in December 2024 at an Israeli military outpost at Tel a-Sultan near Rafah; and the Civil Administration's December 2024 tender for 22 cellular masts in the occupied West Bank. The page footer states the information is valid until 23/01/2025.

Places Cellcom on the BDS Divestment Shortlist under the Occupations screen, tagged Settlement Industry. Records 171 cellular antennas in the occupied West Bank including East Jerusalem, 30 in the occupied Golan Heights and five at Israeli military checkpoints, participation as infrastructure and utility provider in projects to expand two settlements, customer service centres in settlements, and the provision to the Israeli Security Agency of access to subscriber data including call metadata, device locations and browsing history. Its Economic Activism Highlights record the March 2022 University of British Columbia student union divestment motion, the July 2021 KLP divestment, and BDS resolutions at San Francisco State University in November 2020 and Fresno State University in October 2020. Note that the page still lists a New York Stock Exchange ticker; Cellcom delisted from the NYSE in February 2021.

Cellcom won the Israeli Ministry of Defense cellular tender covering approximately 40,000 permanent military personnel, supplying communication services, iPhone and Samsung handsets, 5G packages and international roaming, described as one of the largest tenders in the Israeli telecommunications sector. The report records that Cellcom has supplied cellular services to the Israeli military since 2012, and that it won the contract to supply internet to military bases the previous year, worth tens of millions of shekels over six years.

The International Court of Justice found Israel's continued presence in the occupied Palestinian territory unlawful, held settlements and their associated economic activity contrary to international law, and set out obligations on states in relation to trade and dealings with settlements. The legal framework on which institutional exclusion and procurement decisions rest.

The Israeli Ministry of Communications fined all five infrastructure-holding cellular operators, Pelephone, Partner, Cellcom, Hot Mobile and Wecom, a combined NIS 8.7 million for failing licence obligations requiring coverage of at least 95% of settlement or road surface in 4G, with violations recorded in the South and in the occupied West Bank. The report notes this was the first such enforcement, and that a directive signed by the head of Central Command gave the military's Civil Administration power to penalise operators for licence breaches in the occupied territories, which it had previously lacked. Establishes that Cellcom's licence carries an affirmative, state-enforced obligation to extend coverage to settlements.

International Court of Justice found a real and imminent risk to the right of Palestinians in Gaza to be protected from acts of genocide, and ordered Israel to prevent them. The Court made no finding on the merits of the genocide claim; the order's significance for suppliers is that it puts them on notice of a duty of prevention.

The Israeli private equity fund Fortissimo Capital agreed to acquire a 35.7% controlling stake in Cellcom from Discount Investment Corporation for NIS 925 million, valuing the company at about NIS 2.6 billion, subject to approval by the Ministry of Communications, the Electricity Authority and the Competition Authority. The transaction completed in May 2024, and Fortissimo's founder Yuval Cohen became chairman of the board.

A reassessment of the original 112 enterprises, from which fifteen were removed and none added. Cellcom Israel Ltd. is retained at entry 18 for the same activities (e) and (g), placing it in all three editions of the database.

KLP, Norway's largest pension fund, excluded sixteen companies including the telecoms operators Bezeq, Cellcom Israel, Partner Communications and Altice Europe, on the basis of an unacceptable risk that the companies were contributing to the abuse of human rights in situations of war and conflict. KLP's reasoning on the telecoms operators was that providing services in the occupied West Bank helps make settlements attractive residential areas. The clearest precedent available for an institutional exclusion decision naming Cellcom.

Cellcom announced it would voluntarily delist its ordinary shares from the New York Stock Exchange, filing Form 25 on or around 29 January 2021, with the last day of NYSE trading no earlier than 8 February 2021 and a sole TASE listing from 9 February 2021, on the basis that the vast majority of its shares traded in Tel Aviv and its operations were substantially all in Israel. Removes foreign retail shareholders and, in time, SEC reporting from the pressure surface.

Cellcom acquired the entire share capital of the rival operator Golan Telecom for approximately NIS 545 million plus cash and less financial indebtedness, following approval by the Israeli Competition Authority in June 2020 and the Ministry of Communications in August 2020. Golan Telecom has held its own Israeli Civil Administration licence for the occupied West Bank since 2016, so the acquisition consolidated two settlement-serving licences in one group.

Cellcom Israel Ltd. appears at entry 21 of the original list of 112 business enterprises, for activities (e) and (g). OHCHR assessed 188 enterprises against a standard of reasonable grounds to believe involvement, expressly lower than a criminal standard, over an involvement period of 1 January 2018 to 1 August 2019.

The structural account of how Israeli cellular operators profit from the occupation, across four dimensions: the de-development of the Palestinian telecommunications sector under the Oslo framework, telecommunications as a space of mass surveillance for the Israeli security apparatus, the exploitation of the Palestinian captive cellular market, and the role of Israeli cellular infrastructure in settlement expansion. Cellcom is among the operators examined. Explains why Israeli operators sell 5G in territory where Palestinian competitors may not build.