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Cellcom Declines in Tel Aviv, Closing Gap With U.S. Shares

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March 1 (Bloomberg) -- Cellcom Israel Ltd., Israel’s largest mobile-phone company, fell to a record low in Tel Aviv, closing the gap with the U.S. traded shares.

The shares retreated 1.6 percent to 50.48 shekels, or the equivalent of $13.33, at the 4:30 p.m. in Tel Aviv, 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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