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Cellcom Israel starts restructuring plan to cut annual opex by ILS 150 mln by end-2020
2019-09-24 09:44:00| Telecompaper Headlines
(Telecompaper) Cellcom Israel said its board has approved a comprehensive restructuring plan which will strengthen it in facing continued intense competition and low prices in the market. The plan sets a number of goals to be achieved by the end of 2020, including returning to positive net income, cutting the net debt to EBITDA ratio below 3 (excluding IFRS16 ramifications and special and unusual items), and preparing the company to cope better with market conditions, competition and future investments.
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Category:Telecommunications
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