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Internet Gold initiates process to sell holdings in B Communications

Internet Gold - Golden Lines Ltd. has initiated the process of selling its holdings in B Communications Ltd., the company said Oct. 16.

Internet Gold plans to engage in discussions with selected groups of communications companies, private equity funds and other potential bidders worldwide.

Israel-based Internet Gold is also working with legal and accounting firms to assist the company in the sale process. According to the company, previous potential deals that Internet Gold explored did not materialize.

It was reported in July that Internet Gold's board was pushing through with a regular process for the sale of a controlling stake in Bezeq Israel Telecom Ltd. Internet Gold reportedly owns 65% of the shares in B Communications, which in turn holds a 26.34% controlling stake in Bezeq, its only asset.