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TH E DE TROI T JE WI SH NEWS
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06
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other countries in the Middle based minority shareholder Ca-
ble and Wireless (C&W).
East.
Mr. Beilin's remarks followed
Do you see a role for Cana-
da in helping to develop Is- the Israeli cabinet decision to
cap any private holding —
rael's infrastructure?
We are very good in areas like whether local or foreign — in the
telecommunications. We can re- national phone carrier at 25 per-
lieve traffic congestion. We have cent, and to require government
a company interested in the approval for any attempted pur-
Cross-Israel highway. In the chase of more than a 5 percent
energy area, Trans-Canada stake in Bezeq.
"If they are doing this to harm
Pipelines out of Calgary has
been working with Turkish and C&Ws interests, it's not a sen-
Russian companies in terms of sible move," said Mr. Beilin.
Meretz MK Amnon Rubin-
a pipeline system.
You've met eight Israeli stein, a former communications
ministers during your stay. minister, called the 5 percent
What did they have to rule "far too extreme."
Communications Minister
say?
They said that Israel is open Limor Livnat said the decision
for business, that privatization was not taken to restrict the in-
is in progress, and the Canadi- terests of C&W, which current-
an and other foreign firms are ly holds 10.02 percent of the
firm, but to eliminate a distinc-
very welcome.
Despite the late Prime tion between home and foreign
Minister Yitzhak Rabin's two investors in Bezeq.
Other state assets already
visits to Canada, no Canadi-
an prime minister or foreign face similar restrictions. El Al,
minister has visited Israel. for example, is prohibited by in-
ternational regulations from sell-
Is that about to change?
Our prime minister would ing more than a 25 percent stake
like to visit Israel, and do so at to a foreign investor.
The government wishes to
the earliest opportunity. How-
ever, we are likely to have an reach an agreement with C&W
election this year, and that at before proceeding with a global
the moment is a factor in the public offering, whereby the
travel plans of the prime minis- company will refrain from buy-
ter. We don't know when the ing more shares, according to the
election will be, but the rumors "October 1996 Privatization in
say it may be June or Octo- Israel" report from the Giza
Group, a private investment
ber. ❑
banking firm.
(c) Jerusalem Post 1997
Israel Signs
Nine Deals
More Mergers
In '97 In Israel
Jerusalem (JPFS) — Israel has
signed agreements with nine
countries in an effort to'protect
and encourage investment in
emerging nations, the Treasury
said.
Israel, which negotiated with
each country for up to two years,
now has agreements with
Uzbekistan, Albania, Ukraine,
Argentina, Georgia, India,
Turkey, Turkmenistan and
Kazakhstan that are designed
to alleviate investor concerns
and spur trade in Third World
countries, the former Soviet
Union and Latin America. Israel
is currently negotiating similar
agreements with Cyprus, Be-
larus, Moldova, Peru and Thai-
land.
Jerusalem JPFS) — Fewer ini-
tial public offerings of Israeli
companies on the NASDAQ
market are expected this year
compared with 1996, but the
number of merger transactions
is expected to grow, H&Q Pres-
ident and CEO Daniel Case
said.
H&Q, the leading U.S. in-
vestment bank, recently in-
vested $2 million in the Tel Aviv-
based Tamir Fishman & Co.,
turning the relatively new full-
service investment bank into its
exclusive representative and
strategic partner in Israel.
H&Q is among the four lead-
ing banks in the growth and
technology fields worldwide.
Last year it raised $9 billion
in 145 equity transactions and
advised on 52 mergers and ac-
quisition transactions with a val-
ue of $5.3 billion.
This year will be good for ini-
tial public offerings of Israeli
companies on NASDAQ but not
as great as 1996, when there
were a record number, Mr. Case
said. He explained that many of
the companies prepared to go
public already did last year and
that company valuations are
lower.
Cable, Wireless
Interests Hurt?
Sponsored by the Greater Detroit Chamber of Commerce
Jerusalem (JPFS) — Long-time
supporters of a free-market
economy in Israel are monitor-
ing the latest developments sur-
rounding Bezeq's privatization
"with some concern," according
to Labor MK Yossi Beilin, who
cautioned the government not
to harm the interests of British-