BREAKING NEWS

Rivlin: Israeli companies must remain in Israeli hands

By JPOST.COM STAFF

JUNE 28, 2011 19:53

Knesset speaker MK Rueven Rivlin called on Israeli businesses to remain in the hands of Israeli businessmen, and to resist the global trend of selling companies to outside investors or buyout firms, as in 2006 when London-based Apax Partners LLP bought out control over Tnuva.

He criticized the dairy giant for advocating buying "blue and white," or sticking to p urchases of products manufactured in Israel, while sending off revenue to a British firm.

Rivlin said that the recent cottage cheese boycott has brought to light the growing trend in the Israeli business community of selling out to foreign investors in return for quick payouts.

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