|Bid||361.30 x 100|
|Ask||214.70 x 77511700|
|Day's Range||267.00 - 278.10|
|52 Week Range||214.00 - 470.00|
|Beta (3Y Monthly)||-0.07|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 21, 2019 - Aug 26, 2019|
|Forward Dividend & Yield||0.23 (8.68%)|
|1y Target Est||5.58|
U.S. private investment firm Searchlight Capital Partners has offered up to 485 million shekels ($133.3 million) for a controlling stake in the parent of Bezeq Israel Telecom, according to a regulatory filing. Internet Gold has been searching for a buyer for its majority stake in B Communications since mid-2018 under pressure from bondholders. BCom's single asset is a 26.34 percent controlling stake in Bezeq, Israel's largest telecoms group.
Workers at Bezeq Israel Telecom have called a strike starting on Feb. 5 over plans by the parent company to divest its controlling stake, the country's largest telecoms company said on Wednesday. Employees are demanding to be represented during talks to sell the company in order to be able to sign an agreement that protects workers' rights, Bezeq said in a regulatory filing in Tel Aviv. Workers are also opposed to allowing contract employees to operate Bezeq's switching equipment and carry out activities that have until now been performed by staff.
Searchlight Capital Partners LP bid 387 million shekels ($105 million) to buy Internet Gold’s controlling stake in B Communications Ltd., the largest shareholder in Bezeq Israeli Telecommunications Ltd., according to a Tel Aviv Stock Exchange filing Thursday. B Com was put up for sale as a means to settle the debts of financially troubled Eurocom Group, which took on massive loans to finance its takeover of Bezeq. Internet Gold, a Eurocom unit, is struggling to pay back about 600 million shekels of net debt.
Internet Gold-Golden Lines's latest attempt to sell its holdings in the parent company of Bezeq Israel Telecom has failed. It received no binding offers for its holdings in B Communications, which controls Bezeq, Israel's largest telecoms group, in an auction that ended on Tuesday, it said in a U.S. regulatory filing. Internet Gold is controlled by indebted Israeli holding company Eurocom and has been searching for a buyer for its BCom stake since mid-2018 under heavy pressure from bondholders.
Internet Gold said on Wednesday it did not receive in an auction any binding offers to purchase its holdings in B Communications, the parent to Bezeq Israel Telecom. "The company's board continues to explore the possibility of selling its Bcom shares, continues with discussions with the potential bidders, and continues to explore possibilities for strengthening the company's capital structure," Internet Gold said in a U.S. regulatory filing.
Bezeq Israel Telecom said on Sunday it received notice of an 11.2 million shekel ($3 million) fine from the country's telecoms regulator for failure to sell wholesale landline phone service to competitors. "The company is studying the decision and weighing the filing of a petition against it," Bezeq said in a statement. As part of a sector reform that created a wholesale market, Bezeq in 2015 was ordered to allow competitors to use its telephony infrastructure.
Israel's telecoms regulator unveiled plans on Thursday to publish a tender for fifth generation (5G) mobile networks in the first half of 2019, at a time when fierce competition has slashed profitability at local operators. The Communications Ministry expects the tender in April or May, with the hope frequencies can be allocated by the end of 2019 and 5G can be launched between 2020 and 2023, the ministry's director-general, Netanel Cohen, said.
Bezeq Israel Telecom said on Monday its expected 2018 annual profit would fall by almost half after approving a cost cutting plan to retire 337 workers early at an expense of 512 million shekels ($136 million). The expense would be in addition to 90 million shekels set aside in the first and second quarters of 2018 for early retirement, Israel's largest telecoms group said in a statement. In total these expenses are expected to reduce 2018 net profit by 464 million shekels, Bezeq said.
Israeli police on Sunday said they had found enough evidence for bribery and fraud charges to be brought against Benjamin Netanyahu and his wife in a third corruption case against the Israeli prime minister. Authorities allege Netanyahu awarded regulatory favours to Israel's leading telecommunications company, Bezeq Telecom Israel, in return for more positive coverage of him and his wife on a news website, Walla, owned by the company. Netanyahu has long denied wrongdoing.
A number of foreign private equity funds such as Highland Capital and Searchlight Capital are interested in buying a controlling share in Bezeq Israel Telecom (BEZQ.TA), the Globes financial news website said on Wednesday. Globes said that despite pressure by bondholders of Internet Gold-Golden Lines (IGLD.O) to sell the controlling stake in Bezeq to private local buyer the Neuman family, Internet Gold's board is going ahead with a regular sale process. To that end, it said, the company has appointed Deutsche Bank (DBKGn.DE) to lead the sale of the controlling interest in Israel's largest telecoms group.
A number of foreign private equity funds such as Highland Capital and Searchlight Capital are interested in buying a controlling share in Bezeq Israel Telecom, the Globes financial news website said on Wednesday. Globes said that despite pressure by bondholders of Internet Gold-Golden Lines to sell the controlling stake in Bezeq to private local buyer the Neuman family, Internet Gold's board is going ahead with a regular sale process. To that end, it said, the company has appointed Deutsche Bank to lead the sale of the controlling interest in Israel's largest telecoms group.