Dankner meets IDF bondholders in effort to retain control

By JPOST.COM STAFF
May 26, 2013 09:31

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

Businessman Nochi Dankner met Saturday night with IDB Group bondholders in an effort to persuade them to oppose a proposed arrangement which would oust Dankner from controlling the Israeli conglomerate.

IDB controls companies such as Cellcom and Shufersal.

The bondholders from two tiers of the pyramid conglomerate, IDB Holdings and IDB Development, agreed to convert bonds to stocks and merge the two companies, thus wresting control from Dankner. IDB Development bondholders are to write off NIS 1.8 billion of its debt and get 90 percent of its shares.

Niv Elis contributed to this report

Related Content

Breaking news
July 19, 2018
Trump urges Turkey's Erdogan to free jailed U.S. pastor

By REUTERS