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September 1, 2015 / 17 Elul, 5775
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Posts Tagged ‘Israel Antitrust Authority’

Will Israel Destroy Its Own Energy Independence, Break Deal with Delek, Noble Energy?

Wednesday, December 24th, 2014

The Israeli government’s anti-trust authority is challenging the investors over the group’s monopoly in the field of natural gas development.

U.S.-based Noble Energy and Israel’s Delek group formed the partnership that discovered, explored and began drilling in the mammoth Leviathan gas field and the smaller Tamar field, both in coastal Mediterranean waters.

An original three-year agreement with Israel’s government was to allow the group to maintain control of the gas fields. They were to sell two smaller gas deposits in order to create competition in the local market.

David Gilo, who heads Israel’s Anti-Trust Authority, said on Tuesday however that he is considering backing away from the agreement.

Instead, Gilo said he may advise the government to break up the partnership in order to avoid a monopoly in the market. In response, the Tel Aviv Stock Exchange Tuesday morning suspending trading in shares of energy companies, including Delek.

Noble is threatening litigation, adding that it will “take all action necessary to protect its legal and legitimate rights.” Prospecting by other companies for offshore gas in the country has also halted out of concern over regulatory risk.

National elections that are now facing the country and the dog fighting involved has not done anything to help the situation either.

The Jewish State finds itself in the peculiar situation in which it clearly has the resources to finally become energy independence — yet appears to be on the bring of shooting itself in the foot well before it has the chance to liberate itself from its slavery to others.

Antitrust Authority Approves Sale of Makor Rishon

Thursday, May 1st, 2014

JERUSALEM (JTA) — Israel’s Antitrust Authority has approved the sale of the Makor Rishon newspaper and the NRG news website to billionaire Sheldon Adelson’s Israel Hayom company.

The Authority on Wednesday also approved the sale of the Hebrew-language Maariv to The Jerusalem Post, the Israeli business daily Globes reported.

Makor Rishon had been in danger of closing if a decision on selling the religious-Zionist newspaper had not been made this week.

Israel Hayom, a free daily distributed throughout Israel, began operating in 2007 and has the highest daily circulation of any Israeli newspaper.

Adelson, who made his fortune in casinos, is a major supporter of of Israeli Prime Minister Benjamin Netanyahu, as well as Republican candidates in the United States.

Israeli businessman Shlomo Ben Tzvi and his family put Makor Rishon and NRG on the selling block after poor sales led to the combined company owing about $1 million to creditors and employees.

The Jerusalem District Court approved the $4.9 million sale to Adelson but conditioned the transaction on the approval of the antitrust commissioner, Haaretz reported. The court applied the same condition on the $1.2 million bid for Maariv by Jerusalem Post owner Eli Azur.

Israel, US, UK Antitrust Panels to review Google-Waze Merger

Thursday, October 3rd, 2013

Israel’s antitrust regulatory commission is investigating whether the Google-Waze merger constitutes a monopoly.

The Israel Antitrust Authority opened its investigation on Wednesday, the Israeli business daily Globes reported.

The probe will focus on whether Google’s purchase of Waze, a free downloadable navigation application with more than 50 million subscribers, should have obtained permission from the authority before the merger and whether it could create a monopoly in the Israeli market.

Waze on July 25 reported a purchase price of $966 million in cash in its financial report for the second quarter of 2013, Globes reported. The purchase was completed in mid-May.

The Israeli firm’s managers and employees have remained in their Raanana headquarters rather than relocating to Menlo Park, Calif. Google has said that Waze will remain a separate service and an independent company.

The antitrust authority has asked Google Israel’s general manager and Waze Israel’s CEO for financial and other information, according to Globes.

Also investigating the merger are the Federal Trade Commission in the United States and Britain’s Office of Fair Trading.

Printed from: http://www.jewishpress.com/news/breaking-news/israel-us-uk-antitrust-panels-to-review-google-waze-merger/2013/10/03/

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