Are Cracks Showing Between The New Controlling Shareholders At IDB ?


An argument broke out between the two at a meeting at Menorah Mivtachim.

Eduardo Elsztain  - MOTI BEN MOSHE - IDB

Moti Ben-Moshe                                                      Eduardo Elsztain

Will the business partnership between the new controlling shareholders at IDB Holding Corp. Ltd. (TASE:IDBH), Eduardo Elsztain and Moti Ben-Moshe, stand the test of time? Quite a bit has been written about the differences in the two men’s personalities, as well as their different approaches to business.

Another disagreement broke out a few days earlier over the appointment of IDB Development chairman Aharon Fogel as chairman of its subsidiary,  Discount Investment Corporation (TASE:DISI). Ben-Moshe urged the appointment, but Elzstain opposed it. They ultimately decided to appoint Fogel as a director on Discount Investment’s board, at least for now.

Sources close to Elsztain and Ben-Moshe told “Globes” that the tense atmosphere is exacerbated by Dankner’s investigation into Ben-Moshe’s businesses. Last week, Dankner filed a motion with the court that included additional findings about Ben-Moshe, including a probe by the German energy regulator into ExtraEnergie GmbH, owned by Ben-Moshe.

Ben-Moshe and Elsztain said in response, “We are happy with the partnership, and succeeding in working together to meet all the challenges. We do not respond to rumors.”

Published by Globes [online], Israel business news – www.globes-online.com

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