[April 23, 2013] BRIEF: Shaul Elovitch mulls London offering Tweet Apr 23, 2013 (Globes - McClatchy-Tribune Information Services via COMTEX) -- Shaul Elovitch's B Communications Ltd. (Nasdaq:BCOM; TASE: BCOM) is examining the possibility of raising hundreds of millions of dollars on the London Stock Exchange. Representatives of the group have held meetings with portfolio managers at overseas banks, and are considering an offering in view of the low interest rates in Europe. No final decision has yet been made however. Elovitch bought control (30.7 percent) of Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) via B Communications in 2009 for NIS 6.5 billion, financing the acquisition with credit from Bank Hapoalim (TASE: POLI) (40 percent), Bank Leumi (TASE: LUMI) (20 percent), Amitim, Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL), HSBC, and Mizrahi Tefahot Bank (TASE:MZTF). He himself put up equity of NIS 2 billion. The company's debt balance is currently NIS 2.5 billion, while Bezeq has a market cap of NIS 14.3 billion, so that Elovitch's holding is worth NIS 4.4 billion. ___ (c)2013 the Globes (Tel Aviv, Israel) Visit the Globes (Tel Aviv, Israel) at www.globes.co.il/serveen/globes/nodeview.asp fid=942 Distributed by MCT Information Services [ Back To TMCnet.com's Homepage ]