Discount Investment Corporation’s (TASE:DISI) board of directors met last night and decided to oust Moti Ben-Moshe from his position as co-chairman of the board, just like the recent decision of IDB Development’s board. At the same time, the Discount Investments board of directors blocked a discussion proposed by Ben-Moshe on injecting cash into the company.
In response, Ben-Moshe said that the board refused to discuss his proposal despite the fact that it was not contingent upon anything. Ben-Moshe, and presumably also Discount Investments’ creditors, will study the effects of the decision before deciding on next steps.
Earlier yesterday evening Ben-Moshe told the Discount Investments board that he is ready and willing to inject $153 million into the company in order to improve its financial situation… [READ MORE]
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Published by Globes [online], Israel business news – www.globes-online.com
