Israel's Deal Of The Year?

A Bank Leumi windfall is good for the government, too

Israeli Prime Minister Benjamin Netanyahu just got a big break. The decline of the Tel Aviv stock market had hovered like a black cloud over his plans for a massive privatization of state assets over the next few years. Although the government is expected soon to announce a timetable for selling off such crown jewels as El Al, Bezeq Telecom, and Israel's two biggest banks, Netanyahu and his ministers have been gritting their teeth as the bear market wears on and on.

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