Saban Capital Group Confirms Interest in Bezeq
27 October 2004
LOS ANGELES - Saban Capital Group, Inc. (SCG), the private investment firm of Haim Saban, today confirmed its potential interest in purchasing a controlling stake in Bezeq - the Israel Telecommunication Corp., Ltd. (TLV: BEZQ.TA), Israel's leading telecommunications provider, from the Israeli government. SCG intends to file an application to participate in the bidding process and provide the required letter of credit guarantee.
Adam Chesnoff, President and COO of Saban Capital Group, said, "We believe Bezeq, the preeminent telecommunications provider in Israel, has the potential to be an attractive investment opportunity as the government seeks to privatize the company. We recognize the significant challenges and look forward to exploring this opportunity."
About Saban Capital Group
Saban Capital Group, Inc. ("SCG") is a private investment firm specializing in the media and entertainment industries. Based in Los Angeles, SCG was established in 2001 by Haim Saban, founder of global family entertainment company Fox Family Worldwide and Saban Entertainment, an international television, production, distribution and merchandising company. The firm makes both controlling and minority investments in public and private companies and adds strategic value through its established relationships and industry experience. In addition, SCG owns and operates a music company, Saban Music Group, which operates an independent music-publishing company.