Cellcom’s Rally Turns to Rout as Phone Price Woes Return
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Last year’s record rally in Israel’s largest mobile phone provider is turning into a selloff amid concern the worst of its price war with upstart competitors isn’t over.
Cellcom Israel Ltd. trades at $11.86, the lowest since February, after posting the biggest weekly loss in 10 months in the five days ended June 27. The U.S. shares are down 15 percent this year, eroding a 68 percent gain in 2013.