March 12, 2018 / 10:17 AM / a year ago

Saidoff-led group drops offer for Israel's Eurocom

JERUSALEM, March 12 (Reuters) - A group led by U.S.-Israeli businessman Naty Saidoff has pulled its offer to buy Eurocom, parent company of Bezeq Israel Telecom, Saidoff’s spokesman said.

At the time of the offer, parent Eurocom controlled 6 of 8 Bezeq board positions but changes mean Eurocom controls just 4 of 11, the spokesman said, adding that Saidoff has informed the court of his decision.

“The deal has massively changed. Eurocom lost control,” the spokesman said. “You don’t pay a control fee when you don’t get control. If we want to just buy shares we can do it on the stock exchange.”

$1 = 3.4444 shekels Reporting by Steven Scheer; editing by Jason Neely

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