November 16, 2017 / 11:45 AM / a year ago

Israel's Bezeq Tel: Controlling shareholder not returning as chairman

JERUSALEM, Nov 16 (Reuters) - Bezeq Israel Telecom controlling shareholder Shaul Elovitch, who is under investigation by the country’s securities regulator for fraud, does not seek to return to the post of Bezeq chairman until further notice, the company said on Thursday.

Elovitch stepped down at the outset of the investigation in June and was temporarily replaced by David Granot. Bezeq, Israel’s largest telecoms group, said its board agreed that Granot will continue in the role of chairman.

Elovitch has denied any wrongdoing.

Earlier this month, the Israel Securities Authority — which has been investigating possible fraud and financial reporting offences involving Bezeq executives — said it had found enough evidence to support bringing criminal charges against Elovitch and other officials.

Reporting by Steven Scheer

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