The Bezeq (TASE:BZEQ) workers committee is demanding options on 6% of the company, as part of its privatization.
Under current Government Companies Authority rules, employees may acquire up to 10% of Bezeq at a 30% discount. The options Bezeq workers committee chairman Shlomo Kfir are demanding would be allocated by the company that acquires the state's controlling interest in Bezeq.
The workers committee is demanding options to buy Bezeq shares at the market price, for five years from the date the options are allocated. Kfir says the workers committee had reached an agreement with the Government Companies Authority to include the workers demands in writing in any presentation to a potential buyer of Bezeq.
"We're satisfied with this written statement, since no one will want to acquire Bezeq without reaching agreements on various matters, including employee options," said Kfir.
Last week, the Bezeq workers committee decided to cooperate with Bezeq management in collating information for the prospectus for the company's privatization. They agreed to cooperate after the Government Companies Authority reopened talks with the workers committee on its terms for the privatization.
The Bezeq prospectus was scheduled to be published this month, on the basis of the third quarter 2003 financial report. However, the prospectus will be delayed and will probably be based on the fourth quarter financial report.
Published by Globes [online] - www.globes.co.il - on February 8, 2004