Saban consortium wins out in fight for Bezeq stake

11 May 2005

The consortium headed by media mogul Haim Saban has emerged successful in the race to acquire a 30% stake in Israeli telecoms operator Bezeq. The group’s USD972 million (GBP516 million) offer beat off a rival offer from a group led by rival tycoon Benny Alagem in what is the largest privatisation in Israeli corporate history. Saban now has the option to purchase an additional 10.66% holding from the state within the next four years.

Israel, Bezeq (Israel Telecommunication Corporation)