Bezeq Int'l and Yes submit merger request

Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) units Bezeq International and Yes has submitted a merger request to the Ministry of Communications, sources close to the matter have informed "Globes." ISP provider and international call company and satellite TV company Yes are part of Bezeq's planned Alpha subsidiary, which will also include mobile phone unit Pelephone Communications Ltd..

As part of the merger, Bezeq told the Ministry of Communications that Yes would take in the private division of Bezeq International, while the business division would be set up[ as a separate company and financial and marketing services will be provided by Pelephone.

"Globes" has also been informed that Alpha's management has invited the workers committee for talks about the changes, which are planned to come into effect in June and by then it will form an operational plan to present to the employees. The merger between Bezeq International and Yes will also require approval from the Israel Tax Authority and other authorities.

The Ministry of Communications is not expected to oppose the merger.

Ran Guron already serves as CEO of Pelephone, Bezeq International and Yes.

Published by Globes, Israel business news - en.globes.co.il - on April 26, 2021