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Stock impact report

CORRECTED-New board members proposed for Israel's Bezeq amid police investigation [Reuters]

B COMMUNICATIONS (BCOM) 
Company Research Source: Reuters
CORRECTED-New board members proposed for Israel's Bezeq amid police investigation | Reuters Reuters Staff 3 Min Read (Corrects to read daughter-in-law (not wife), paragraph 3) TEL AVIV, Feb 26 (Reuters) - The parent company of Bezeq Israel Telecom is seeking to appoint new members to the company’s board to replace three directors who submitted resignations amid an ongoing police investigation of fraud and other securities offences. The resignations were sought by minority shareholders in the wake of the investigation started by Israel’s markets regulator last year. The probe threatens to create a power vacuum at Israel’s largest telecoms group. Former Bezeq chairman Shaul Elovitch said he will step down from the board as will his son and daughter-in-law, parent company B Communications (Bcom) said on Monday. Elovitch, a family friend of Prime Minister Benjamin Netanyahu who controls Bezeq through Bcom parent Eurocom, was arrested last week along with his wife and son. They are in poli Show less Read more
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