Teddy Sagi was reportedly offering NIS 300 million for 50% of Scailex's import activities for Samsung mobile phones.
Scailex Corporation (TASE: SCIX; Pink Sheets:SCIXF), controlled by Ilan Ben Dov, said this evening that talks with Playtech Cyprus Ltd. (AIM:PTEC) controlling shareholder Teddy Sagi to buy part of the Samsung mobile handset import activities have been broken off. Ben Dov is also the controlling shareholder in cellular provider and Orange franchisee Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR).
Scailex only notified the TASE about the talks with Sagi yesterday. The planned sale was part of Ben Dov's attempts to raise capital for his holding company Tao Tsuot Ltd. (TASE: TAO-M), which is seeking a debt settlement. Ben Dov's troubles have been exacerbated by a 50% fall in the share price of Partner.
Talks between Ben Dov and Sagi were reportedly for a sale of 50% of Scailex's import and distribution activities for Samsung mobile handsets for NIS 300 million at an overall value of NIS 600 million.
Published by Globes, Israel business news - www.globes-online.com - on December 20, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011