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Court approves B Communications stake sale to PE firm Searchlight Capital

Israeli telecom company B Communications Ltd. received approval from the Tel Aviv-Jaffa District Court for its proposed sale to private equity firm Searchlight Capital Partners LP.

Internet Gold - Golden Lines Ltd., which owns a 51.95% stake in B Communications, initiated a sale process of its holdings in the company in October 2018. Last month, shareholders of B Communications approved the sale of the controlling stake to Searchlight Capital.

The transaction now requires approval of the Ministry of Communications.