Globes

The Bezeq group has announced that its Pelephone mobile telephony unit has signed a non-binding memorandum of understanding to buy all the shares in Wecom Mobile for NIS 265 million, subject to adjustment in the final agreement, if one is signed. Bezeq says that the deal is in line with the group’s growth strategy through investments in its field.

Tower Semiconductor (TASE: TSEM; Nasdaq: TSEM) has announced a program of strategic expansion of its factory in Japan, and has updated its model for 2028 with a substantial rise in its financial targets. The company has set a revenue target of $3.6 billion for 2028, which compares with a previous target of $2.8 billion, and a net profit target of $1.2 billion, up from $750 million.

The main indices on the Tel Aviv Stock Exchange rose today. The Tel Aviv 35 Index rose 0.69%, to 4,086.02 points; the Tel Aviv 125 Index rose 0.45%, to 4,022.50 points; and the BlueTech Global Index rose 0.43%, to 657.67 points. The TelBond 60 corporate bond index rose 0.11%, to 428.11 points. Turnover totaled NIS 4.35 billion in equities and NIS 5.06 billion in bonds.

Pharmaceuticals company Rafa Laboratories completed its raise via an offer for sale yesterday, and reported the results last night. Private equity firm FIMI Opportunity Funds acquired control of the company in 2020 from the Sackler family and improved its performance. The offer for sale gave a smaller return to FIMI than expected, however. It received NIS 500 million from the sale of 31 million shares and 19 million warrants (which it received free).

Assaf Rappaport and the other founders of Wiz are in talks to buy 25% of the Herzliya Medical Center private hospital at a valuation of over NIS 1 billion, "Globes" has learned. Six months ago, it was reported that Yitzhak Tshuva was on the verge of a similar deal, but that it was blocked by the Ministry of Health. Sources now inform "Globes" that that deal is still on the agenda, so that two sides are competing for the acquisition.

The German government made it clear today that any vote on a boycott or toughening of trade terms with Jewish settlements in Judea and Samaria by the EU requires unanimous agreement from all 27 member states, which significantly reduces the chances of the measure being adopted. EU foreign ministers are gathering today in Brussels for a meeting where, after months of pressure from countries that oppose Israel, such as Spain, Belgium and Ireland, the issue will be discussed.

The Tel Aviv Stock Exchange was flat today as a late rally wiped out losses. The Tel Aviv 35 Index rose 0.07% to 4,058.08 points, the Tel Aviv 125 Index fell 0.07% to 4,004.34 points; and the BlueTech Global Index fell 0.79% to 656.82 points. The TelBond 60 corporate bond index fell 0.09% to 427.63 points. Turnover totaled NIS 3.60 billion in equities and NIS 3.52 billion in bonds.

Several days before the dissolution of the Knesset, Minister of Transport Miri Regev is pushing for the appointment of Avner Flor as Israel Railways chair, "Globes" has learned that the appointments committee today discussed and approved Flor, who is currently Israel Railways acting CEO as a director of the company. Last year Flor was appointed by the board as acting CEO after working for years in the Ministry of Transport, where he was seen as close to Regev.

Israel Discount Bank (TASE: DSCT) board of directors has decided to examine the merger of its subsidiary Mercantile Discount Bank into it. The aim of the change in structure, if approved, according to the bank, is to strengthen the group's competitiveness.

Israeli software company Redis is embarking on a major round of layoffs in Israel. "Globes" has learned that the company will lay off about 80 employees out of 300 in Israel, representing about 27% of the local workforce. This is one of the most significant rounds of layoffs the company has carried out in Israel in recent years, which comes in the wake of a period of changes in the company's management.