Dankner: Cellular reform led to IDB's collapse

Nochi Dankner
Nochi Dankner

In court, Nochi Dankner denied charges of share manipulation and blamed Moshe Kahlon's reform for IDB's collapse.

Former IDB Holding Corp. Ltd. (TASE:IDBH) chairman Nochi Dankner testified in court today for the first time, where he is charged together with Itay Strum with manipulating IDB shares in February 2012.

Dankner, who denies the charges, told the Tel Aviv District Court that he does not know Adi Sheleg who is acting as a state's witness against him.

Dankner described the reform of the cellular market introduced by then Communications Minister Moshe Kahlon as "the final nail in IDB's coffin," which led to its collapse. IDB is the parent company of mobile operator Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL), which was badly hit by the intensified competition.

Dankner said that he himself made two major mistakes - continuing to increase his stake in Credit Suisse and buying the Las Vegas Plaza with Yitzhak Tshuva.

In his testimony Dankner said, "I am an honest, moral and law abiding person, both in my personal and professional life. I always protected and helped my employees."

Published by Globes [online], Israel business news - www.globes-online.com - on April 12, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015 .

Nochi Dankner
Nochi Dankner
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