Estimates: Kardan-IDB deal collapse liable to hurt Bezeq privatization

Market sources estimate that the collapse of the Kardan-IDB deal is liable to hurt Bezeq¿s privatization process. This is because some of the Israeli companies that planned to submit bids for 20% of the Bezeq controlling stake may be interested in investing in IDB.

Ha'aretz daily recently reported talks between Polar Investments and the Leviev group to form a consortium to acquire the IDB stake, as well as that Israel Corporation is also examining the investment. Polar-Leviev and Israel Corp had both announced plans to bid for Bezeq.

A senior source in one of the companies considered a potential buyer in both cases told TheMarker today that "right now IDB looks expensive, but any company is interesting at a certain price. If IDB's price comes down, I would invest more time in that".

The Kardan takeover of IDB was supposed to close at a $1.3 billion value for IDB. The IDB stake for sale is valued at an estimated $250 million, while the Bezeq stake is likely to go for $600 million.

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