Harel Insurance Investments and Financial Services (TASE: HARL) has informed credit card company Isracard (TASE: ISCD) that it does not intend to continue to act to obtain approval to acquire Isracard, putting an end to the acquisition deal.
Last week, the Competition Authority told the two companies that it was opposed to the deal. Harel has now announced that its board of directors has decided that the company should not exercise its right to extend the deadline for fulfilling the preconditions for the merger with Isracard.
Published by Globes, Israel business news – en.globes.co.il – on January 30, 2024.
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