B Communications functions as a holding company of Bezeq The Israeli Telecommunication Corp Ltd. It is a subsidiary of Internet Gold, namely Internet Gold Golden Lines, itself a subsidiary of Eurocom Communications Ltd., owned by Shaul Elovitch.
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B Communications is a publicly traded holding company, headquartered in Israel, whose sole asset is a controlling interest in Israeli telecommunications provider Bezeq.
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.
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In 1998, Bezeq co-founded Yes, a Direct-broadcast satellite provider, which began broadcasting in July 2000.
The company had an installed base of millions of lines in over 100 countries worldwide, including Germany (Deutsche Telekom), Turkey (Turk Telekom), Brazil (Brazil Telecom, Telefonica & Global Village Telecom), Chile (Telefonica), Mexico (Telmex), Costa Rica (ICE), Israel (Bezeq), South Africa (Telkom), Australia (Telstra), Russia (Uralsviazinform & North West Telecom), Serbia (Telekom Srbija, Telenor) and Kazakhstan (KazakhTelecom).
Bezeq |
This period was characterized by vigorous privatization of state companies, including El Al, Bezeq, Israel's Oil Refineries and Zim, selling shares in a total value of 14b NIS in an unprecedented privatization spree.