Barak ownership to change

25 May 2005

Clal Industries, owned by Nochi Dankner’s IDB Group, will increase its stake in Israeli telco Barak from 44% to 95% by contributing more than USD32 million to the restructuring of the telco’s debt. As part of the changes international communication services company Dial, which had owned 46% of Barak, will cease to be a shareholder.