Firm Advised on Broadcast Law While Brokering Major HOT Deal
Translated & summarized from TheMarker by baba
MNS Consulting received NIS 660,000 from Israel's Ministry of Communications for advising on the broadcast law. Simultaneously, the firm brokered the sale of HOT and a TASE fund's holdings in the fiber optic company IBC. The broadcast law is facing legal challenges in the High Court of Justice over procedural and staff work concerns. The Ministry initially withheld consultant information until a freedom of information request was filed.
The story in 5 lines · by baba
- MNS Consulting was paid NIS 660,000 by the Ministry of Communications for broadcast law advice.
- MNS also led the sale of HOT and a TASE fund's stake in fiber optic company IBC.
- The broadcast law is stalled in the High Court of Justice due to 11 petitions.
- Petitions cite concerns over Knesset procedure and Ministry of Communications staff work.
- The Ministry initially refused to disclose consultant information, yielding it after a petition.
The Ministry of Communications paid MNS Consulting NIS 660,000 for its advisory role in drafting the broadcast law. Concurrently, MNS led the deal for the sale of holdings in the fiber optic company IBC by HOT and the TASE (Tel Aviv Stock Exchange) fund.
The broadcast law, approved by the Knesset in July and championed by Minister of Communications Shlomo Karhi, is currently stalled in the High Court of Justice (Bagatz) due to 11 petitions. These petitions cite concerns about the legality of the Knesset's procedure and alleged deficient staff work within the Ministry of Communications. Some of this work was performed by external consultants, including MNS.
The Ministry of Communications initially refused to disclose information about the external consultants it hired, providing it only after an administrative petition was filed by the non-profit organization 'Success'. This information was obtained by TheMarker through a freedom of information request submitted by 'Success'.