Connect with us

Hi, what are you looking for?

Jewish Business News

World News

Bank of Israel spikes Wertheim succession at Mizrahi Tefahot

The Bank of Israel is not granting a bank control permit to Mozi Wertheim’s children David and Drorit.


MOZI Wertheim and Droroit Wertheim


The Bank of Israel is not granting a control permit to the children of Moshe (Mozi) Wertheim at Mizrahi Tefahot Bank (TASE:MZTF). This emerges from a notice from Mizrahi Tefahot to the Tel Aviv Stock Exchange today.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

“The licensing unit in the Banking Supervision Department of the Bank of Israel has sent a letter stating that, for legal and procedural reasons, the Banking Supervision Department is unable to recommend to the Governor of the Bank of Israel to grant the requested permit. The Wertheim family is examining the letter and its implications, ” the law firm of Ron Gazit Rotenberg & Co., which works with the Wertheim family, states.

Almost two years ago, Wertheim (84) announced that he was dividing his 22% stake in Mizrahi Tefahot between his children David and Drorit. This announcement came after Mozi Wertheim announced that he was gifting his shares in the Central Bottling Company Ltd. (Coca Cola Israel) to his children: 63% to David, and 37% to Drorit.

The two have since undergone a long process of applying for a permit to control a bank, but it appears that, surprisingly, the process has been unsuccessful, and the Bank of Israel has announced that they will not receive a permit.

The Wertheim family’s control of Mizrahi Tefahot Bank is in question, since under the Economic Concentration Law it will have to sell one of its holdings, the Central Bottling Company or Mizrahi Tefahot, in the next few years.

Published by Globes [online], Israel business news –



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Copyright © 2021 Jewish Business News