Israel’s telecom regulator on Thursday ordered mobile phone operators to cut fees they charge each other to connect calls by nearly 80 percent, a move the companies say will hurt profits and revenue.

Despite months of pressure by mobile firms to abandon its plan, Communications Minister Moshe Kahlon said interconnect fees will drop to 0.0687 shekels a minute at the start of 2011 from 0.25 shekels.

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