Bezeq Israel signs deal to sell Walla! to Jerusalem Post for ILS 65 mln including 7 years' advertising space 

Wednesday 16 September 2020 | 11:23 CET | News

Bezeq Israel said it has reached an agreement with The Jerusalem Post to sell it the company's holdings in the subsidiary Walla! Communications for ILS 65 million, of which ILS 55 million is cash and the remaining ILS 10 million in the form of advertising space for seven years from the date that the transaction closes.

The agreement includes the company's obligation to indemnify the purchaser in certain circumstances. The closing of the transaction is subject to the receipt of regulatory approvals and other conditions. The company is expected to post a capital gain before tax of ILS 44 million.

Israeli businessman Eli Azur owns the Jerusalem Post and Maariv newspapers and has a stake in some of Israel's leading sports channels and radio stations. 

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Categories: Internet
Companies: Bezeq / Walla! Communications
Countries: Israel
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