Koor Industries (Nasdaq:KOR) has hired the services of Merrill Lynch to sell its controlling interest in ECtel (Nasdaq:ECTX), a member of the ECI Telecom (Nasdaq:ECIL) group, Ma'ariv reports.
Merrill Lynch has already contacted several potential Israeli and foreign investors. No suitable offers have been forthcoming, Ma'ariv writes.
ECtel develops systems to detect fraud over communications networks. Its market cap is over $200 million. ECI reportedly hopes to get a price of $150 million for the controlling interest.