B Communications

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B Communications Ltd.
Type Public
Traded as NASDAQBCOM
TASEBCOM
Industry Telecommunications services
Predecessors 012 Smile.Communications
Founded 1999 (1999)
Headquarters Ramat Gan, Israel
Key people Shaul Elovitch (Chairman)
Doron Turgeman (CEO)
Revenue Increase US$ 2.444 billion (2010)
Operating income Increase US$ 347 million (2010)
Net income Increase US$ 91 million (2010)
Parent Internet Gold Golden Lines
Subsidiaries Bezeq
Website www.bcommunications.co.il
Footnotes / references
[1]

B Communications is a publicly traded holding company, headquartered in Israel, whose sole asset is a controlling interest in Israeli telecommunications provider Bezeq. Its shares are traded on the NASDAQ Global Select Market and on the Tel Aviv Stock Exchange.

Operations[edit]

B Communications functions as a holding company of Bezeq The Israeli Telecommunication Corp Ltd. It is a subsidiary of Internet Gold, namely Internet Gold Golden Lines, itself a subsidiary of Eurocom Communications Ltd., owned by Shaul Elovitch.[2][3]

History[edit]

In January 2010, as part of the deal to transfer the controlling interest in Bezeq from the Apax-Saban-Arkin group to Eurocom, 012.Smile Communications Ltd. sold its telecom business assets to Ampal-American Israel Corporation. Ampal renamed its newly acquired business 012 Smile Telecom, and 012.Smile Communications Ltd. was renamed B Communications. On 14 April 2010 B Communications completed the acquisition of 30.44% of Bezeq's shares for NIS 6.5 billion.[4][5][6][7][8]

Management[edit]

Eli Holtzman, who served as 012.Smile's CEO since its founding, retired in 2011. Doron Turgeman, who had earlier served as the company's CFO and deputy CEO, was appointed CEO in his stead.[9]

See also[edit]

References[edit]

  1. ^ "BCOM Income Statement". Yahoo! Finance. 2011. Retrieved 17 November 2011. 
  2. ^ Wrobel, Sharon (12 February 2010). "012.Smile closes Bezeq deal". Jerusalem Post. Retrieved 17 November 2011. 
  3. ^ "012 Smile signs financing deal for Bezeq purchase". Ynetnews. Reuters. 13 February 2010. Retrieved 17 November 2011. 
  4. ^ Ness, Gilad (16 March 2010). "עכשיו זה רשמי: סמייל 012 הפכה ל'B קומוניקיישנס'" [Now it is official: Smile 012 has become 'B Communications']. Calcalist (in Hebrew). Retrieved 17 November 2011. 
  5. ^ Gruntman, Yael (16 March 2010). "Elovitch renames Smile as B Communications". Globes. Retrieved 17 November 2011. 
  6. ^ "012 Smile.Communications renames as B Communications". Telecompaper. 17 March 2010. Retrieved 17 November 2011. 
  7. ^ "012 Smile.Communications Ltd. Has Completed the Sale of Its Telecom Business Assets to Ampal-American Israel Corporation". Reuters (Petach Tikva, Israel). Business Wire. 1 Feb 2010. Retrieved 17 November 2011. 
  8. ^ Ness, Gilad (31 August 2010). "בי קומיוניקיישנס תגייס 400 מיליון שקל בהנפקת אג"ח". Calcalist (in Hebrew). Retrieved 17 November 2011. "באפריל השנה רכשה בי קומיוניקיישנס כ-30.44% ממניות בזק מקבוצת סבן-אייפקס-ארקין שהחזיקה בגרעין השליטה בבזק." 
  9. ^ "B Communications Ltd. Announces the Retirement of Its Chief Executive Officer, Eli Holtzman, and the Election of Doron Turgeman as Its New Chief Executive Officer". Business Wire (Ramat Gan, Israel). 3 October 2011. Retrieved 17 November 2011. 

External links[edit]