Sylvan Adams in talks to invest in Reshet-Channel 10

Sylvan Adams Photo: Reuters

Another Canadian billionaire Mitch Goldhar has also had initial talks about investing in the planned merged TV company.

Israeli-Canadian billionaire Sylvan Adams has been holding talks in recent weeks about buying a 4.99% stake in the new merged Reshet-Channel 10 commercial TV company, sources inform "Globes." However, any possible deal and the issue of new shares is contingent on completion of a merger agreement between the shareholders of Reshet and Channel 10 and its approval by the Second Authority for TV and Radio.

The same is true of Israeli businessman Eli Azur who is also looking for a stake in the newly merged company, although it is unclear whether he can hold the 8% stake he wants, or no more than 4.99%.

"Globes" can also reveal that there have been initial talks between the business manager of another Canadian billionaire, Maccabi Tel Aviv football club owner Mitch Goldhar, about investing in the planned new merged Reshet-Channel 10 company.

Adams is best known for bringing the Giro D'Italia cycle race to Israel last May and also works to bring other major events to Israel that will improve the country's image. The real estate billionaire has also contributed to the construction of Tel Aviv's network of cycle paths and the Tel Aviv Velodrome indoor cycling arena.

Published by Globes, Israel business news - en.globes.co.il - on December 3, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Sylvan Adams Photo: Reuters
Sylvan Adams Photo: Reuters
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