The Chairman of the Histadrut Labor Federation, Amir Peretz, strongly requested Prime Minister Ehud Barak to intervene in the privatization of Israel Discount Bank, which is to take place via a public stock offering.
"Out of deep concern for the workplace of the 5,700 dedicated bank employees, I'm asking you to intervene in this tangled web and overturn the decision to sell the bank via a share offering on the stock market," Peretz wrote to the prime minister at the end of last week, reported the Israeli newspaper Haaretz
Peretz pointed out how ironic it is that potential candidates for the acquisition of the bank have been turned down for many years—yet suddenly the government is willing to sell the bank via the bourse without any means of preventing a hostile takeover.
Peretz requested Barak to reevaluate the course by which he chooses the appropriate candidate to control the bank.—(Albawaba-MEBG)
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