Bezeq to take over YES
May 5, 2009
Bezeq Israel Telecom has said it would merge with satellite TV unit YES. Bezeq, Israel’s largest telco, said it will raise its stake in YES to 58 per cent from 49.8 per cent after agreeing to a number of conditions set by Israel’s antitrust court. Final approval is dependent on Israel’s Supreme Court, which is due to hear an appeal filed to stop the merger. The hearing will be scheduled for June or July.
Israel’s antitrust commissioner had objected to the move on the grounds it would be anti-competitive since Bezeq was building a next-generation network capable of transmitting IPTV.