Len Blavatnik close to buying Israel's Channel 10

Len Blavatnik

RGE Group controlled by Blavatnik, Aviv Giladi and the Recanati family are reportedly offering NIS 190 million.

The RGE Group, owned by British-based billionaire Len Blavatnik, Aviv Giladi and the Recanati family, could be set to buy Israel's Channel 10 in the coming few days.

Blavatnik and Giladi came to Israel last week to discuss terms and are likely to offer a price that will be beyond that which Ilan Shiloah, their rival to buy Channel 10, will be prepared to pay.

Sources close to the potential deal say that RGE will offer controlling shareholder Yosef Maiman and his partner Arnon Milchan an upside clause of about NIS 70 million in addition to the NIS 120 million needed to cover the channel's debts. Control of Channel 10 would be transferred to RGE.

Published by Globes [online], Israel business news - www.globes-online.com - on May 11, 2015

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

Len Blavatnik
Len Blavatnik
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