The split today is Worldcom 37% and Dovrat-Shrem 63%
The international communications giant WorldCom, which may acquire MCI for $37 billion, in the largest merger in history, is now negotiating with the Dovrat-Shrem group with the aim of increasing their holding in the Israeli communications company, Darcom.
Darcom Communications was founded in 1992 by the millionaire David Reichman, of the Canadian family of billionaires Ralph and Paul Reichman. The company obtained licences from the Ministry of Communications in nearly all communication spheres. In 1993 33% was sold to the American communications company IDB (today WorldCom) , and a further 16%, for $5 million, to the Dovrat-Shrem group, at a company value of $30 million.
David Reichman died early in August 1994. Initially, his widow continued to direct the company, but at the start of 1995 she transferred all her holdings to IDB and Dovrat-Shrem. Meanwhile, IDB was acquired by the LDDS company and changed its name to WorldCom. Today WorldCom holds 37% of Darcom Communications and Dovrat-Shrem holds 63%.
Today Darcom operates two of the licences granted to them : lease of satellite point-to-point lines, and video conferencing services through point-to-point lines. Their clients include the United States Embassy, Bank Leumi, US broadcasting company NBC and others.