B Communications

B Communications is a publicly traded holding company, headquartered in Israel, whose sole asset is a controlling interest in Israeli telecommunications provider Bezeq. Its shares are traded on the NASDAQ Global Select Market and on the Tel Aviv Stock Exchange.

B Communications Ltd.
Public
Traded asNASDAQ: BCOM
TASE: BCOM
IndustryTelecommunications services
Predecessor012 Smile.Communications
Founded1999 (1999)
Headquarters
Ramat Gan
,
Israel
Key people
Darren Glatt (Chairman)
Tomer Raved (CEO)
Revenue US$ 2.584 billion (2019)
Loss of US$ 164 million (2019)
Loss of US$ 399 million (2019)
ParentSearchlight II BZQ L.P and T.N.R investments
SubsidiariesBezeq
Websitewww.bcommunications.co.il
Footnotes / references
[1]

Operations

B Communications functions as a holding company of Bezeq The Israeli Telecommunication Corp Ltd. B Communications is controlled by Searchlight II BZQ L.P (60.18%) and T.N.R investments Ltd (11.39%).[2][3]

History

In January 2010, as part of the deal to transfer the controlling interest in Bezeq from the Apax-Saban-Arkin group to Eurocom, 012.Smile Communications Ltd. sold its telecom business assets to Ampal-American Israel Corporation. Ampal renamed its newly acquired business 012 Smile Telecom, and 012.Smile Communications Ltd. was renamed B Communications. On 14 April 2010 B Communications completed the acquisition of 30.44% of Bezeq's shares for NIS 6.5 billion. As of January 2020 , B Communications is holding 26.34% from Bezeq shares.

Management

Mr. Darren Glatt serves as Chairman of the board of Directors since December 2019. Mr. Tomer Raved serves as Chief Executive Officer and as a director since January 2020

See also

References
  1. "BCOM Income Statement". Yahoo! Finance. 2011. Retrieved 17 November 2011.
  2. Wrobel, Sharon (12 February 2010). "012.Smile closes Bezeq deal". Jerusalem Post. Retrieved 17 November 2011.
  3. "012 Smile signs financing deal for Bezeq purchase". Ynetnews. Reuters. 13 February 2010. Retrieved 17 November 2011.
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