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Israel: Authority approves telco merger after 8 years

By  |  March 26, 2014

Israel’s Antitrust Authority has reportedly granted approval for Bezeq Israel Telecommunication and DBS Satellite Services to merge after first objecting to the deal in 2006.

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    When the companies first approached regulators with a merger plan, reports say the Authority held concerns over Bezeq’s efforts to increase its stake in DBS Satellite Services, known as Yes, towards 50 percent. Bezeq brought its case to the tribunal, which backed the merger plans, but was subsequently shot down when the Supreme Court sided with the Antitrust Authorities.

    But since Eurocom acquired a controlling stake in Bezeq in 2009, forcing Bezeq to divest its stake in Yes, Eurocom has reportedly asked the Authority to reopen the case that opposed Bezeq’s acquisition of Yes due to the fact that market changes have occurred since the original ruling was made.

    Now, with the Authority’s clearance of the deal, reports say the Ministry of Communications will need to sign off on the deal.

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