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Israeli telecom company seeks court approval for B Communications stake sale

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Israeli telecom company seeks court approval for B Communications stake sale

Israeli telecom company Internet Gold - Golden Lines Ltd. is seeking the Tel Aviv-Jaffa District Court's approval for the sale of its controlling stake in B Communications Ltd. to private equity firm Searchlight Capital Partners LP.

Internet Gold, which owns a 51.95% stake in B Communications, initiated a sale process of its holdings in the Israeli company in October 2018.

The move comes after shareholders of B Communications approved the sale of the controlling stake to the private equity firm.

The deal also requires the approval of the Ministry of Communications in Israel.