Scailex Corporation (TASE: SCIX; Pink Sheets:SCIXF), controlled by Ilan Ben-Dov and BGI Investments (1961) Ltd. (TASE: BGI), controlled by Zvi Barenboim, jointly announced the cessation of negotiations between them for the purchase by BGI from Scailex of the latter's import and distribution of Samsung telephones business.
Scailex announced the negotiations on April 18.
In December 2011, Ben-Dov failed in his attempt to sell part of the Samsung telephone distribution business to Teddy Sagi, who controls Playtech Cyprus Ltd. (AIM:PTEC). Scailex's asking price valued the business at NIS 600 million.
A little later, as a confidence building measure, Ben-Dov published a tender offer to purchase Scailex shares at NIS 17 per share, intending to buy 2.6% of the issued shares. However, the offer met with low demand, and Ben-Dov managed to purchase only 0.023% of the company's shares, even though his offer represented a premium of 9.6% on the market price of the shares at the time.
Published by Globes [online], Israel business news - www.globes-online.com - on May 15, 2012
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