As filed with the Securities and Exchange Commission on February 5, 2007
Registration No. 333-


SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM F-1
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933

CELLCOM ISRAEL LTD.
(Exact Name of Registrant as Specified in Its Charter)

Israel 4812 [not applicable]
(State or Other Jurisdiction of (Primary Standard Industrial (I.R.S. Employer
Incorporation or Organization) Classification Code Number) Identification Number)
     
  10 Hagavish Street
Netanya , Israel 42140
(972) 52 -999-0052
(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices)

LIAT MENAHEMI STADLER CT Corporation
General Counsel 111 Eighth Avenue
Cellcom Israel Ltd. New York, New York 10011
10 Hagavish Street (212) 894-8940
Netanya, Israel 42140
(972) 52 -9990
(Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent For Service)

Copies to:
MICHAEL P. KAPLAN ODED ERAN AARON M. LAMPERT PHYLLIS G. KORFF
Davis Polk & Wardwell ADAM M. KLEIN Naschitz, Brandes & Co. Skadden, Arps, Slate, Meagher
450 Lexington Avenue Goldfarb, Levy, Eran, 5 Tuval Street & Flom LLP
New York, New York Meiri & Co. Tel-Aviv 67897, Israel Four Times Square
10017 Europe-Israel Tower (972) 3-623-5000 New York, NY 10036
(212) 450-4000 2 Weizmann Street (212) 735-3000
Tel Aviv, Israel 64239
(972) 3-608-9999

     Approximate date of commencement of proposed sale to the public: As soon as practicable after the effective date of this Registration Statement.
     If any of the securities being registered on this form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. o
     If this form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. x 333-140030
       If this form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.
o __________
       If this form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.
o __________

CALCULATION OF REGISTRATION FEE
Title Of Each Class
Of Securities To Be Registered
Amount To Be
Registered(1)
Proposed
Maximum Offering
Price Per Unit(2)
Proposed Maximum
Aggregate Offering
Price
Amount Of
Registration Fee
Ordinary Shares, par value NIS 0.01 per
   share
1,178,750 $20.00 $23,575,000 $2,523

(1) Includes 153,750 ordinary shares which the underwriters have the right to purchase to cover over-allotments.
(2) Based on the initial public offering price of $20 per ordinary share.
 





Incorporation by Reference of Registration Statement on Form F-1, File No. 333-140030

     Cellcom Israel Ltd. (the “Company”) hereby incorporates by reference into this Registration Statement on Form F-1 in its entirety the Registration Statement on Form F-1 (File No. 333-140030) declared effective on February 5, 2007 by the Securities and Exchange Commission (the “Commission”), as amended, including each of the documents filed by the Company with the Commission and incorporated or deemed to be incorporated by reference therein and all exhibits thereto.

Exhibits

     The following documents are filed as exhibits to this Registration Statement.

Exhibit Number   Description
 5.1   Opinion of Goldfarb, Levy, Eran, Meiri & Co.
23.1   Consent of Somekh Chaikin, a member firm of KPMG International
23.2   Consent of Goldfarb, Levy, Eran, Meiri & Co. (included in Exhibit 5.1)
25.1   Powers of Attorney (included on signature page of Registration Statement on Form F-1, File No. 333-140030)






SIGNATURES

     Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form F-1 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in The City of New York, State of New York on the 5th day of February, 2007.

  CELLCOM ISRAEL LTD. 
     
By:    /s/ LIAT MENAHEMI STADLER
 
  Name: Liat Menahemi Stadler  
  Title: General Counsel  

     Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

Signature   Title   Date
         
/s/ LIAT MENAHEMI STADLER*   President and Chief Executive Officer   February 5, 2007

(Principal Executive Officer)
Amos Shapira        
         
/s/ LIAT MENAHEMI STADLER*   Chief Financial Officer   February 5, 2007

(Principal Financial Officer)
Tal Raz        
         
/s/ LIAT MENAHEMI STADLER*   Chairman of the Board and Director   February 5, 2007

Ami Erel        
         
/s/ LIAT MENAHEMI STADLER*   Director   February 5, 2007

Nochi Dankner        
         
/s/ LIAT MENAHEMI STADLER*   Director   February 5, 2007

Isaac Manor        
         
/s/ LIAT MENAHEMI STADLER*   Director   February 5, 2007

Shay Livnat        
         
/s/ LIAT MENAHEMI STADLER*   Director   February 5, 2007

Raanan Cohen        
         
/s/ LIAT MENAHEMI STADLER*   Director   February 5, 2007

Oren Lieder        
         
/s/ LIAT MENAHEMI STADLER*   Director   February 5, 2007

Avraham Bigger        
         
/s/ LIAT MENAHEMI STADLER*   Director   February 5, 2007

Rafi Bisker        
         
/s/ LIAT MENAHEMI STADLER*   Director   February 5, 2007

Shlomo Waxe        


*      Liat Menahemi Stadler is signing for each of the Principal Executive Officer, Principal Financial and Accounting Officer and each director pursuant to a Power of Attorney filed as Exhibit 24.1 to, and contained on the signature page of, the Registration Statement on Form F-1 (File No. 333-140030) filed on January 17, 2007.
 







   PUGLISI & ASSOCIATES
     
By:   /s/ Donald J. Puglisi  
 
  Name: Donald J. Puglisi  
  Title: Managing Director  
  Authorized Representative in the United States






EXHIBITS

Exhibit Number   Description
 5.1   Opinion of Goldfarb, Levy, Eran, Meiri & Co.
23.1   Consent of Somekh Chaikin, a member firm of KPMG International
23.2   Consent of Goldfarb, Levy, Eran, Meiri & Co. (included in Exhibit 5.1)
25.1   Powers of Attorney (included on signature page of Registration Statement on Form F-1, File No. 333-140030)