Bezeq Int'l-Yes merger approved

Yes

Bezeq will still be required to maintain structural separation between itself and its merged subsidiaries.

The Ministry of Communications has approve dthe merger between Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) units Bezeq International and Yes. The merger is due to take place at the beginning of next year, although the disputes between the various workers committees and Bezeq's management put this in doubt.

Following the merger, Yes is meant to become a company selling triple telecommunications packages (telephone, Internet, and television). Under the conditions of the ministry's approval, Bezeq International's customers are to be transferred to Yes in such a way as will not harm them and at the same level of service. In order to maintain competition in the telecommunications market, structural separation between Bezeq and the merged company will remain in force.

In the past, the Ministry of Communications opposed the idea of a merger of Bezeq's subsidiaries, but the current proposal does not include mobile telephony company Pelephone (the third company in Bezeq's "Aleph" group).

Published by Globes, Israel business news - en.globes.co.il - on July 19, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

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