Elovitch steps aside as Bezeq chairman

Shaul Elovitch Photo: Eli Yizhar

However, even though the ISA has recommended indicting him, Elovitch will continue as chairman of Bezeq's subsidiaries, except Yes.

Bezeq Israeli Telecommunication Co. Ltd.'s (TASE: BEZQ) board of directors has approved Shaul Elovitch's proposal to step aside as chairman for the time being and allow David Granot to continue in the position. This follows the Israel Securities Authority's recommendation to the State Prosecutors Office to indict Elovitch. He has already had a court order to stay away from Bezeq's offices because of the investigation against him.

Bezeq's board of directors also approved Elovitch's continuation as chairman of the company's subsidiaries except Yes, the TV satellite company.

Elovitch is the biggest fish in the Bezeq investigation, which is focusing on irregularities in Bezeq's merger with Yes. Elovitch and the many others in the case are suspected of fraudulently receiving money, leaking classified documents from independent committees and the Ministry of Communications through a network of "moles" operated by Elovitch and his associates; and working consistently and systematically to deceive regarding the Bezeq-Yes merger and the Bezeq-Spacecom Satellite Communications Ltd. (TASE:SCC) merger by distorting figures allegedly carried out by Yes's CEO and comptroller. Among the suspects is Ministry of Communications director general Shlomo Filber and his personal assistant who are accused of taking decisions allegedly to benefit Bezeq.

Published by Globes [online], Israel business news - www.globes-online.com - on November 16, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Shaul Elovitch Photo: Eli Yizhar
Shaul Elovitch Photo: Eli Yizhar
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