Saban allowed to keep 24% of Keshet

New Bezeq owner Haim Saban will be allowed to keep a 24 percent share in broadcasting company Keshet, after the the Knesset Economics committee gave its approval to amend the law obligating him to lower his stake to 5%. Saban recently bought a controlling stake in Bezeq which, because of its ownership of satellite TV company Yes, he was required to divest in Keshet, a franchisee of Channel 2. Saban currently owns a 27.8% stake in Keshet and by the cable and satellite law could only keep 5% if he took ownership of Bezeq and, with it, Yes. By a different law, the second broadcasting authority law, Saban could keep 24% of Keshet for the Bezeq deal to go through. Communications Minister Dalia Itzik recommended that the two laws become consistent at 24%, which the Economics committee agreed to in Mondays session.
More about:Dalia Itzik, Knesset