The consortium of Israeli banks that lent businessman Gad Zeevi about $720 million may tomorrow commence legal steps to seize Bezeq shares provided as collateral for the loans, Ma'ariv reports.
Zeevi borrowed the money from banks Hapoalim, Leumi, Discount and First International to buy a 20% stake in the state-run Bezeq phone monopoly from British firm Cable & Wireless.
Zeevi is scheduled to make a $45 million interest payment to the banks tomorrow, Thursday. The seizure will apparently take place if he defaults on the payment.
A top source in the banking establishment said the chances of Zeevi making the payment are slim.