Israeli Telecoms Heat Up

The once static Israeli telecommunications market is suddenly jumping. The government awarded a cellular phone license to a partnership including BellSouth Corp. and the Brazil branch of the Safra banking family. It is also planning to bring in a big multinational to compete in international phone services with the state-owned phone giant Bezeq Israel Telecommunications. Israel is considered one of the choicest phone markets, ranking 10th in volume of calls to and from the U.S. Sale of 25% of Bezeq on the New York and Tel Aviv exchanges is planned for November.

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