Bezeq - Immediate Supplementary Report - Injunction for Internet Gold's proposed agreement to sell B Communications shares to the Neuman Group
Tel Aviv, Israel – June 18, 2018 – Bezeq The Israel Telecommunication Corp., Ltd. (TASE: BEZQ), announced that further to its report of June 17, 2018 regarding notice from Internet Gold–Golden Lines Ltd., the indirect controlling shareholder in the Company (hereinafter: "Internet Gold"), concerning negotiations for the sale of Internet Gold's holdings in its subsidiary company, B Communications (hereinafter: "BCom"), on June 18, 2018 Internet Gold notified the Company as follows:
A temporary injunction was issued by the Court suspending the negotiations due to "a confidential and urgent request for a temporary injunction against Internet Gold preventing the sale of shares in BCom" which was filed ex parte, by the special appointed managers of Eurocom Communications Ltd., the controlling shareholder in Internet Gold.
Internet Gold must respond to the injunction by June 20, 2018. The Court also added the "Neuman Group", for response (with which negotiations were held for the sale of BCom shares, as reported).
Internet Gold's Board of Directors has not yet approved the transaction in question, but the position of the Board of Directors is that the proposed transaction reflects a significantly higher value from the current market value and asset value of BCom, and therefore, these market conditions justify an immediate in-depth examination of the proposed transaction.
Internet Gold will consult with its legal advisors and will respond at the appropriate time.
The above information constitutes a translation of the Immediate Report published by the Company. The Hebrew version was submitted by the Company to the relevant authorities pursuant to Israeli law, and represents the binding version and the only one having legal effect. This translation was preparedfor convenience purposes only.