David Granot told the fund’s representatives in London that he preferred to wait until the shareholder’s meeting in April
Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) chairperson David Granot met last week with representatives of the Elliott Associates fund in London, following the fund’s demands for the replacement of Bezeq’s board of directors. Granot arrived at the meeting accompanied by a representative of Barclays Bank and Bezeq CFO Yaheli Rotenberg. As far as is known, the meeting ended without results
Sources inform “Globes” that Granot held a series of meeting with investors in London last week, including Elliott Associates, the current leader in the struggle to replace Bezeq’s board of directors. Combined with other investors, Elliott Associates own 4.8% of Bezeq’s shares. The fund recently demanded a series of steps by Bezeq aimed primarily at replacing the board of directors, which will lead to a substantial change in the way Bezeq is managed
Elliott Associates are demanding the appointment of professional directors at Bezeq, because they believe that the directors who were involved in party at interest deals under investigation by the Israel Securities Authority cannot continue serving as directors
The dispute concerns the timing. Elliot Associates are not willing to wait for a general shareholders’ meeting in April, and are demanding immediate measures. Granot, on the other hand, explained that he is not planning any far-reaching measures right now and asked Elliott Associates to wait for the convening of a general shareholders’ meeting in order to raise all of their demands in orderly fashion
On the other hand, Granot did not absolutely refuse Elliott Associates’ demands, and told the fund that an official response would be sent to them soon