Renewable Energy

Searchlight in deal to buy control of Israel's Bezeq -media

Credit: REUTERS/AMIR COHEN

U.S. private investment firm Searchlight Capital has reached an agreement to acquire the controlling shareholder of Israel's largest telecom group, Bezeq, Israeli media reported on Thursday.

JERUSALEM, June 20 (Reuters) - U.S. private investment firm Searchlight Capital has reached an agreement to acquire the controlling shareholder of Israel's largest telecom group, Bezeq BEZQ.TA, Israeli media reported on Thursday.

Leading financial news websites Calcalist and Globes reported that a deal to purchase B Communications BCOM.TA, which had been in the works for months, was being signed after certain bondholders lifted their objections.

BCom’s single asset is a 26.34 percent controlling stake in Bezeq.

Bezeq officials were not immediately available for comment.

Bezeq shares were up 6.5% in late trading in Tel Aviv. BCom shares were up almost 15% as well.

(Reporting by Ari Rabinovitch; Editing by Tova Cohen)

((ari.rabinovitch@thomsonreuters.com; +972-2-632-2202; Reuters Messaging: ari.rabinovitch@thomsonreuters.com@reuters.net))

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