Bezeq employees want both buyers and sellers to pay them

The Histadrut (General Federation of Labor in Israel) today approved a labor dispute at Bezeq The Israeli Telecommunication Co. Ltd. (TASE: BEZQ), after the company's workers committee claimed that management was ignoring its basic demands to discuss the ramification of the change in control at the company. The approval means that Bezeq's employees have the right to take industrial action, up to and including a strike, after the mandatory 14-day cooling off period.

Sources at Bezeq's workers committee said today that they very much hoped that no strike would be necessary. They added, however, that if management continues to refuse to enter into talks with the workers committee, there would be no alternative.

The Bezeq national workers committee, led by Shlomo Kfir, has formulated a series of demands ahead of the pending change in control of the company from Ap-Sab-Ar Holdings Ltd. (the Apax Partners-Saban Capital Group Inc.-Arkin consortium) to Shaul Elovitch-controlled B Communications Ltd. (Nasdaq:BCOM; TASE: BCOM). It is demanding a bonus amounting to five monthly salaries at the sellers' expense, and an options package at the buyer's expense. It is also demanding an official collective agreement that will guarantee that the controlling shareholders will not carry out a capital reduction in order to ensure Bezeq's financial soundness.

Bezeq's share price rose 0.3% by mid-afternoon to NIS 10.44.

Published by Globes [online], Israel business news - www.globes-online.com - on March 25, 2010

Bezeq employees want both buyers and sellers to pay them

The workers committee It is demanding a bonus amounting to five monthly salaries at the sellers' expense, and an options package at the buyer's expense.