Globes
The Minister responsible for Bezeq told “Bloomberg”
that he backs Bezeq to complete Israel’s fiber-optic
network even if it compromises telco competition.
Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) has been boosted by the backing of Minister of Regional Cooperation Tzachi Hanegbi to complete Israel’s national fiber-optic network, even at the expense of undermining government plans to make the telco market more competitive.
Hanegbi told “Bloomberg,” “If we don’t move ahead with a national fiber-optic infrastructure, Israel’s internet will get stuck in another two or three years. Without the advanced network, we’re in danger of going from Start-Up Nation to Stuck-Up Nation.”
Hanegbi is also responsible for Bezeq as Prime Minister Benjamin Netanyahu, who is also acting Communications Minister,is deemed to have a conflict of interest regarding Bezeq.
Hanegbi, reports “Bloomberg,” is prepared to allow Bezeq, which has already installed about 60% of its fiber-optic network, to offset and estimate $1.4 billion in losses from satellite broadcasting unit DBS Satellite Services (1998) Ltd. (YES) against tax payments.