Adv. Ronen Adini, Representing in the Derivative Claim for the Bezeq-Yes Transaction Claims: “The Proceeds paid by Bezeq to Yes were Excessive, Inequitable, and Financially Unreasonable”

One of the biggest stakeholder transactions that Bezeq has carried out in recent years was the acquisition of the satellite communications company, Yes, from Eurocom, which is also controlled by Shaul Elovitch, in March 2015. Bezeq acquired 50% of Yes’ shares from Eurocom for NIS 680 million. According to the agreement, an additional payment of up to NIS 200 million will be transferred to Eurocom if Bezeq is allowed to take advantage of losses accumulated in the amount of NIS 2.4 billion, and NIS 170 million more will be paid subject to Yes’ financial result over the next three years. Before the Transaction was approved, The Marker raised the question of why Bezeq was paying five times more for Yes than what it is worth to an external buyer.

This Transaction has also reached the Tel Aviv District Court, after a shareholder in Bezeq filed for a derivative claim two years ago, by counsel Adv. Ronen Adini.

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