Prime Minister Benjamin Netanyahu has instructed that the Israel Electric Corporation (IEC) (TASE: ELEC.B22) telecommunications infrastructure venture must achieve 80% nationwide deployment within five years. The decision puts an end to the disagreement over IEC's request for seven years to deploy.
Netanyahu made the decision at a meeting in his office on Monday with Minister of Finance Yuval Steinitz, Minister of National Infrastructures Uzi Landau, Minister of Communications Moshe Kahlon, and an official from the Ministry of Justice.
IEC wanted seven years for deploying its telecommunications infrastructure to 80% of the population, because this would make the venture more attractive to investors. The venture's license requires universal deployment. During the meeting, it was emphasized that the network would be laid simultaneously nationwide, and not result in a situation in which the periphery would be the last to be networked.
Kahlon told the meeting that the venture would be required to deploy its infrastructure as part of a general license that requires universal deployment, and that it would be required to link schools, kindergartens, and other educational and cultural institutions.
Published by Globes [online], Israel business news - www.globes-online.com - on December 8, 2010
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