THE ISRAELI government this week pushed its privatisation programme on to a new stage by announcing the sale of stock in El Al Israel Airlines, the national carrier, and confirming its intention to divest a stake in national chemicals group Israel Chemicals as well as approving the sale of stock in Israel Discount Bank. The country's privatisation ambitions have been thwarted by an uncertain government policy toward the state sales. Only two weeks ago, Merrill Lynch sold 2.5% of the national telecom group, Bezeq, to the diversified UK telecom operator, Cable & Wireless, which already held 10% of the group.
June 12, 1998