Cellcom Israel CEO resigns

Cellcom Israel Ltd. CEO Avi Gabbay has resigned and is exploring the acquisition of a rival company, according to a Nov. 22 filing.

Gabbay will leave the role in the "coming days" once an acting CEO has been appointed, the company said.

According to a Nov. 21 report by financial newspaper Globes, Gabbay had previously proposed purchasing Cellcom with help from a financial institution, but the company's controlling shareholders did not agree to the deal.

Gabbay will now head a group of investors who are looking to acquire Cellcom's rival, Partner Communications Company Ltd., according to a separate report by Globes.