Middle East

Israel to sell minority stakes in Ashdod and Haifa ports

Cairo: Tel Aviv’s ongoing struggle with state run port workers over contentious privatisation plans is set to enter a new contentious chapter. Israel plans to issue minority stakes of up to 49% in state-owned companies on the Tel Aviv Stock Exchange over the next three years.

"This is another step in stopping the politicization of government companies and reducing corruption in the companies," Finance Minister Yair Lapid said on Sunday.

Israel in 2015 will seek to sell a minority stake in Israel Natural Gas Lines and the state postal company and privatize Israel Military Industries, the port of Ashdod, and several smaller companies.

Among the companies planned for privatization in 2016 are the port of Haifa and Israel Aerospace Industries (IAI).

Port workers at Haifa and Ashdod have regularly voiced their displeasure at Tel Aviv’s privatization plans, leading to strikes this year.  [06/10/14]

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