Shlomo Shmelzer already owns Tadiran Telecom's marketing company.
Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) is negotiating to sell Tadiran Telecom to Shlomo Shmelzer's S. Shlomo Holdings Ltd. (TASE:SHLD).
Shlomo Shmelzer already owns Tadiran Telecom's marketing company and he is now hoping to acquire Tadiran Telecom's manufacturing plant, which produces telephone and communications centers, from Africa-Israel.
Africa-Israel has been looking to sell Tadiran Telecom for some time and since Izzy Cohen became CEO, efforts have intensified as the holding company seeks to realize assets. Tadiran Telecom's factory is in Petach Tikvah.
Tadiran Telecom's products are marketed worldwide by distributors but in Israel exclusively by Tadiran Telecom Communication Services in Israel, which is owned by Shlomo Holdings. This arrangement has made the factory highly dependent on the marketing company.
Published by Globes [online], Israel business news - www.globes-online.com - on June 16, 2009
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