A PYMNTS Company

Israel: New Business Concentration Law aims to decentralize economy

By  |  June 21, 2013

Lawmakers have passed the Business Concentration Law as part of legislation aimed at decentralizing Israel’s economy. The bill, approved by the Knesset Finance Committee on Tuesday, bans conglomerates from consisting of more than two tiers: a parent company and a subsidiary. Further, the legislation bars nonfinancial companies from taking ownership in financial institutions in efforts to jumpstart competition as well as tackle unfair credit allocation. Lawmakers also set an annual turnover threshold at which a monopoly; is required to divest assets. Currently, Israel has two business groups with monopolies.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Haaretz

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.