Israeli mobile operator Cellcom Q2 loss narrows despite lawsuit provision

JERUSALEM: Cellcom, Israel’s largest mobile phone operator, reported a second-quarter loss despite a jump in revenue after it set aside a one-time provision due to a class action lawsuit against the company.

Cellcom, which de-listed from the New York Stock Exchange in February, said on Thursday it lost 14 million shekels ($4 million) in the quarter, versus a 46 million shekel loss a year earlier. Revenue rose 17.3% to 1 billion shekels.