Competition panel won't bring down business pyramids
The so-called economic concentration committee will be convening for an emergency session Tuesday, with the purpose of accelerating its final report. The committee members were summoned at the behest of Prime Minister Benjamin Netanyahu, who has given them until the end of August to finalize their recommendations. The meeting will be chaired by Eyal Gabai, director-general of the Prime Minister's Office, and Haim Shani, the outgoing director-general of the Finance Ministry.
Sources close to the committee say steps against the business pyramids will apparently not be aggressive. The most likely move will be to amend the Companies Law, strengthening the board and disinterested shareholders (who have no ties with the controlling shareholder ). Less likely is that Israel's business barons will be forced to dismantle their business pyramids as the United States did in the 1930s. Also unlikely to pass is a proposal to slap tax on control pyramids, especially on dividends.
Like us on Facebook and get articles directly in your news feed