March 1, 2020 / 9:02 AM / a month ago

Israel's Bezeq Telecom to reduce subsidiary's value in 2019

TEL AVIV (Reuters) - Bezeq Israel Telecom (BEZQ.TA) said on Sunday it expects to post a roughly 80 million shekel ($23 million) drop in the value of its subsidiary Bezeq International when it reports its 2019 annual results this month.

This figure, which is not final, is not expected to impact the estimate Bezeq has provided for its 2019 results, the company said in a regulatory filing.

Bezeq, Israel’s dominant telecom group, has said it expects a 1.1 billion shekel loss in 2019 after two major write-downs in its business units this year.

Reporting by Tova Cohen

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