Gad Zeevi group company Malam Systems and communications company Bezeq today announced they have increased their holdings in Bezeq Gold. Malam increased its stake in the company from 12% to 46%, while Bezeq increased its share from 38% to 49%, thereby becoming the major shareholder. The remaining 5% are held by US communications company AT&T.
The acquisitions were from Bynet Data Communications, which has ceased to have a holding in Bezeq Gold, and from AT&T, at a company value of $4.5 million.
In its announcement, Malam Data Communications noted that Bezeq has the option to purchase the Bezeq Gold shares held by it, after the exercise of which Malam will remain with a 25.1% stake in Bezeq Gold.
Bezeq Gold specializes in communications and data solutions for the business sector. The company operates one of AT&T's seven global communications interconnects, which connects millions of users in 160 connected countries to 40 different communications networks.
Bezeq Gold's services include e-mail, Internet, banking flashes, e-commerce and fax. The company also has a database for the capital market, business news flash and economic news service and links to the Registrar of Companies' database.
Published by Israel's Business Arena on 15 June, 2000