NETANYA, Israel, March 22, 2011 /PRNewswire-FirstCall/ -- Cellcom Israel Ltd. (NYSE: CEL ) (TASE: CEL) (hereinafter: the "Company") announced today that following its previous announcement it has approached Netvision Ltd., or Netvision, with a proposal to negotiate a merger between the Company's subsidiary and Netvision, Netvision notified the Company of its decision to enter such negotiations with the Company. Consummation of the transaction is subject to various conditions and the Company can provide no assurances that it will enter into any transaction. For details on the proposed merger transaction with Netvision and the conditions for its consummation see the Company's most recent annual report on Form 20-F for the year ended December 31, 2010 under "Item 5. Operating Results - Overview - Recent Developments".