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Cellcom Declines in Tel Aviv, Narrowing Spread With U.S. Shares

Cellcom Israel Ltd. (CEL), Israel’s largest mobile-phone company, headed for the lowest close on record in Tel Aviv, narrowing the gap with the U.S. traded shares.

The shares retreated 1.1 percent to 50.74 shekels, or the equivalent of $13.42, at 11:34 a.m. in Tel Aviv, poised for the lowest close since they were listed in July 2007. The New York- traded stock fell 1 percent to $13.35 yesterday.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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