Sources inform "Globes" that high-tech entrepreneur Zaki Rakib has teamed up with Judy Shalom-Nir-Moses, wife of Minister for the Development of the Negev and the Galilee, Silvan Shalom to set up a joint investment fund to invest in communications, media, health and lifestyle. The fund is looking for offices in Tel Aviv Ramat Ha'hayil neighborhood.
Rakib made his fortune in high tech. He is best remembered for co-founding Terayon Systems Inc., which developed broadband gateways for the home, with his brother, Shlomo. They sold some of their shares when the company was worth billions of dollars. Terrayon was eventually sold to Motorola Inc. (NYSE: MOT) for $140 million. The fund is a new attempt by Rakib to enter Israel's communications sector after he was unsuccessful in recent bids for Partner Communications Co. Ltd. (Nasdaq: PTNR; TASE:PTNR; LSE:PCCD) and 012 Smile.Communications Ltd. (Nasdaq:SMLC; TASE: SMLC).
Shalom-Nir-Mozes holds 12% of Yediot Ahronot Group, which owns Israel's largest circulation daily. She is the sister of Arnon Mozes, the controlling shareholder in Yediot Ahronot, and Tami Mozes-Borovitz of the family which controls El Al Israel Airlines Ltd. (TASE:ELAL).
Published by Globes [online], Israel business news - www.globes-online.com - on February 8, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010