Bezeqsat sold to RRsat as Bezeq focuses on core business

4 Nov 2008

Israeli fixed line and broadband incumbent Bezeq has sold its satellite communications operation, Bezeqsat, to RRsat Global Communications Network for USD15 million; Bezeqsat provides video and internet satellite services, as well as acting as a communications platform for satellite broadcasts from Israel to overseas, and counts CNN and the BBC as customers. Bezeq CEO, Avi Gabby, said in a statement, ‘The sale of the satellite communications activities is part of Bezeq’s ongoing strategy of focusing on its core business’, and the company is expected to post a capital gain of NIS49 million (USD13 million) from the sale.

Israel, Bezeq (Israel Telecommunication Corporation)