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Israel: New Business Concentration Law aims to decentralize economy

By  |  June 21, 2013
Israel: New Business Concentration Law aims to decentralize economy

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.

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    Full Content: Haaretz

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