Corporate sell-off looms as Israel takes on tycoons

[Mosby]

TEL AVIV, Feb 13 (Reuters) - Israeli conglomerates will offload billions of dollars worth of assets over the next few years to comply with a new law designed to promote competition and dilute the power of big business in a country where a few tycoons control much of the economy.

The move to redefine Israel's corporate landscape comes after 400,000 people took to the streets in 2011, the largest protest in Israeli history, angered by the high cost of living.

The Business Concentration Law, which aims to break up some of the largest conglomerates and prevent the growth of new behemoths, could put about 40 firms worth 80-100 billion shekels ($23-28 billion) up for sale, according to Israeli corporate law firm Gross Kleinhendler Hodak Halevy Greenberg & Co (GKH).

The reform, which was approved in December and is the latest in a swathe of new business regulations, should result in smaller holding companies with less debt, said Alon Glazer, head of research at Leader Capital Markets.

http://finance.yahoo.com/news/corporate-sell-off-looms-israel-050001060.html;_ylt=AwrBEiRkvQRTUkAA2mCTmYlQ

[dixiegrrrrl]

1. Hope that idea becomes contagious....

[Armstead]

2. Interesting...Good idea

I know nothing about the internal workings or politics of Israel. Don't know whether this is for real or not.

But if this is as it appears on the surface, there's something we in the cowed and bowed US population should seriously consider.