Gal Rozent

1 week ago | jdsupra.com | Ran Karmi |Gal Rozent |Barnea Jaffa Lande

Bank Hapoalim and Israel Discount Bank will each pay the State Treasury ILS 40 million within the framework of an administrative settlement (“agreed order”), in respect of their acquisitions of minority stakes in a competitor which, according to the director-general of the Competition Authority, constitutes an illegal restrictive arrangement in violation of the Economic Competition law of 1988 (The Competition Law).