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Bezeq

#3483

Rank

$3.21B

Marketcap

IL Israel

Country

Bezeq
Leadership team

Mr. David Mizrahi (Chief Exec. Officer)

Mr. Ran Guron (Chief Exec. Officer of Pelephone, DBS & Bezeq International)

Mr. Zvika Abramovich (VP of HR at Pelephone, DBS & Bezeq International)

Products/ Services
Cloud Data Services, Internet, Telecommunications
Number of Employees
1,000 - 20,000
Headquarters
Tel Aviv, Tel Aviv, Israel
Established
1984
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
BEZQ.TA
Social Media
Overview
Location
Summary
Bezeq The Israel Telecommunication Corporation Limited provides communications services to business and private customers in Israel. It operates in four segments: Fixed-line Domestic Communication; Cellular Communication; Internet, International Communications, and NEP Services and ICT Solutions; and Multi-channel Television. The company offers telephony services, including basic telephony services on the domestic telephone line, as well as associated services, such as voice mail and caller ID; national numbering services; broadband Internet access infrastructure services; and transmission and data-communication services. It also provides virtual server services; Bcyber services; smart business services; private virtual PBX services; and B144 service, an advertising platform for digital advertising and marketing to small businesses, BCam, Wi-Fi, SMS, and remote backup. In addition, the company offers infrastructure services, company's network connection, billing services, and space leasing; and operates and maintains radio transmitters for broadcasting of radio and television contents. Further, it provides basic telephone, browsing and data communications, messaging, push to talk, Internet of Things, roaming, and servicing and repair services, as well as sells terminal equipment; installs, operates, and maintains cellular communication equipment and systems; and offers infrastructure and communication technologies solutions, as well as data transmission, NEP, PBX, multi-channel digital satellite television, over the Internet and value added services. The company was founded in 1980 and is based in Holon, Israel.
History

Bezeq was founded in 1984 as a government-owned corporation, taking over the provision of telephony services in Israel, which had been run directly by the Ministry of Communications. The previous system was highly bureaucratic, requiring customers to wait lengthy periods of time for a telephone line.

In the late 1980s Anat Hoffman founded a group to protect the interests of Bezeq customers. A major complaint was that Bezeq did not send customers itemized bills. 46 cases were brought to small claims court and the consumers won 43 of them. Within two years of the campaign. consumers began to receive itemized bills.In 1994, Bezeq acquired 50% ownership of Pelephone, Israel's first mobile communication company, in 2004 acquired full ownership of the company from its co-owner Motorola.

In 1998, Bezeq co-founded Yes, a direct-broadcast satellite provider, which began broadcasting in July 2000.

In January 2012, Bezeq International Optical System was completed, a submarine telecommunication cable linking Tel Aviv and Bari in Italy. The system spans 2,300 km of cable, and extended terrestrially from Bari through Interoute's network to major European cities.In April 2012, Bezeq acquired full ownership of Walla! Communications, Israel's leading Internet portal, which has more than 2.5 million monthly unique users. In December 2020, Bezeq sold its 100% stake in Walla! Communications. Bezeq operates the B144 directory enquiries service.In February 2015, Bezeq acquired full ownership of Yes, Israel's leading television provider, for ?680 million.

Loss of monopoly status

In 1994, Cellcom a new Mobile communication company was founded, breaking Pelephone's monopoly in this area. In 1999, a third competitor, Partner Communications Company, was established.

In 1997, two new competitors were introduced in international calling services , and Bezeq was obliged to establish a new subsidiarity to compete with them named Bezeq International.

Until the mid-first decade of the 21st century when it was owned by the Israeli government, Bezeq had a monopoly on landline telephony and Internet access infrastructure . Though still the most dominant provider of telephone services, it has had competition from the sole cable provider in the country , Hot, which offers a cables based telephone and internet access services as of 2005, and with 012 Smile and more recently 013 netvision and Orange.

Privatization

On 9 May 2005, Israel's Government Companies Authority, headed by Eyal Gabbai privatized Bezeq when 30% of its shares were sold by the state to the Apax-Saban-Arkin investment group for $972 million.The cellular communications provider Pelephone is a fully owned subsidiary of Bezeq. Bezeq is also the largest shareholder in D.B.S. Satellite Services Ltd., known by its trademark name, Yes, the DBS television provider in Israel.

In April 2010, the controlling interest in Bezeq, held by the Apax-Saban-Arkin group, was sold to B Communications, a subsidiary of Shaul Elovitch's Eurocom Group, for $1.75 billion.In late 2017, bank filed a petition against Elovitch to break up Eurocom Group to pay back loans totaling $275 million. This would directly impact the 10% shareholding in Bezeq, including Elovitch's 26% controlling stake. Meir Shamir has expressed interest in buying a controlling stake, effectively cancelling the debt to the banks. Two other investors have also expressed interest in purchasing a stake in Bezeq, including Argentine investor Eduardo Elsztain and Elliott Management, who announced they had recently purchased a 4,8% stake.

Police investigation and graft probe

In 2018 the company announced that company CEO Stella Handler would be resigning her position. She is one of several Bezeq employees under investigation by the Israel Securities Authority and the Israel Police regarding Bezeq's purchase of Yes shares and allegations of improper dealings with the Israeli Ministry of Communication. Also in 2018, board members Shaul Elovitch, Or Elovitch and Orna Elovitch resigned as a result of Case 4000, an ongoing corruption investigation involving the former Prime Minister of Israel Benjamin Netanyahu.

Involvement in Israeli settlements

On 12 February 2020, the United Nations published a database of 112 companies helping to further Israeli settlement activity in the West Bank, including East Jerusalem, as well as in the occupied Golan Heights. These settlements are considered illegal under international law. Bezeq was listed on the database on account of its "provision of services and utilities supporting the maintenance and existence of settlements" and "the use of natural resources, in particular water and land, for business

purposes" in these occupied territories.On 5 July 2021, Norway's largest pension fund KLP said it would divest from Bezeq together with 15 other business entities implicated in the UN report for their links to Israeli settlements in the occupied West Bank.

Mission
Our mission is to provide innovative, high-quality telecommunications services that meet the needs of our customers and serve the interests of society.
Vision
Our vision is to be a leading provider of telecommunications services in Israel and abroad, leveraging our expertise and technological capabilities to expand our presence in new markets.
Key Team

Mr. Ilan Sigal (Chief Exec. Officer)

Mr. Tobi Fischbein (Group Chief Financial Officer)

Mr. Eyal Kamil (VP of Operations & Logistics)

Amit Kurland (Chief Accountant)

Meni Baruch (VP of Technologies & Network Division)

Mr. Naftali Sternlicht (Head of Investor Relations)

Mr. Amir Nachlieli (VP & Legal Counsel)

Recognition and Awards
Bezeq has won numerous awards, including the Most Innovative Organization Award presented by the Prime Minister, the Technology Pioneer Award from the Ministry of Science and Technology, and the Best Customer Service Award from the Israel Customer Service Association.
References
Bezeq
Leadership team

Mr. David Mizrahi (Chief Exec. Officer)

Mr. Ran Guron (Chief Exec. Officer of Pelephone, DBS & Bezeq International)

Mr. Zvika Abramovich (VP of HR at Pelephone, DBS & Bezeq International)

Products/ Services
Cloud Data Services, Internet, Telecommunications
Number of Employees
1,000 - 20,000
Headquarters
Tel Aviv, Tel Aviv, Israel
Established
1984
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
BEZQ.TA
Social Media