The negotiations with Tapuz failed to result in a deal.
Scailex Corporation (TASE: SCIX; Pink Sheets:SCIXF) announced today that it is cancelling the sale of its Samsung mobile telephone business in Israel to Tapuz People Ltd. (TASE:TPUZ).
Scailex, controlled by Ilan Ben-Dov, has been trying to sell its franchise to sell Samsung equipment in Israel. The negotiations with Tapuz, which is also controlled by Ben-Dov, failed to result in a deal.
Scailex was due to receive Tapuz shares in the deal. Internet portal and mobile content provider Tapuz has a market cap of just NIS 20 million, while the market cap of Scailex has fallen in the past year to NIS 70 million. Suny Electronics Ltd. (TASE: SUNY), which has a market cap of NIS 104 million, owns 62.7% of Tapuz and 78.7% of Scailex.
Published by Globes [online], Israel business news - www.globes-online.com - on February 26, 2013
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