July 11, 2017 / 12:24 PM / a month ago

Bezeq probe widened to include Spacecom -Israeli regulator

JERUSALEM, July 11 (Reuters) - Israel's securities regulator said on Tuesday it was widening its corruption investigation into Bezeq Israel Telecom to include a communications deal signed with satellite operator Spacecom.

The Israel Securities Authority (ISA) said in a brief statement it is investigating suspected violations of the securities law and penal code and that further details remained under a gag order.

Bezeq, Israel's largest telecoms group, and Spacecom are both controlled by businessman Shaul Elovitch, who was previously questioned by the ISA and has been released on bail with restrictions placed on his travel.

Trade in both companies was halted in Tel Aviv following the announcement.

The ISA said last month its case focuses on Bezeq's 2015 acquisition of the remaining stake in its satellite TV unit, YES, from parent company Eurocom, which is owned by Elovitch. The regulator now said it was also looking into satellite services provided by Spacecom to YES. (Reporting by Ari Rabinovitch; Editing by Tova Cohehn)

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