Competition Authority opposes NIS3b Harel-Isracard merger
Categories: Banking & Finance, Corporate and M&A
The Competition Authority has expressed official opposition to the planned NIS3 billion acquisition by Harel Insurance Investments and Financial Services (TASE: HARL) of credit card company Isracard (TASE: ISCD).
The Authority has notified both companies that its recommendation to the Exemptions and Mergers Committee will be that the merger should not be allowed. The Capital Markets, Insurance and Savings Authority and the Bank of Israel have approved the deal.
Read more in Globes.
