Yitzhak Tshuva eyes Isracard stake

Published date09 June 2024
AuthorRoi Weinberger
Publication titleGlobes (Rishon LeZion, Israel)
Several months ago it looked like Harel Insurance Investments and Financial Services (TASE: HARL) was set to buy Isracard for NIS 3.3 billion but the deal was canceled following opposition from the Israel Competition Authority on concerns that information would be exchanged by the two companies. A short time afterwards, Nawi Brothers Group submitted a request to the Bank of Israel to obtain a permit to control Isracard, with a 20%-25% stake, which was below the Supervisor of Banks threshold for the core control. So Isracard has been left without a controlling core

This situation has attracted investors to purchase shares in Isracard due to the growth of credit card companies in the credit sector alongside income from core operations. At the end of March, a private investor, whose identity has not been published...

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