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Israel Approves $4 Billion Privatization Plan for Next 3 Years

Israel plans to issue minority stakes of up to 49 percent in state-owned companies on the Tel Aviv Stock Exchange over the next three years, a move the Finance Ministry said would bring in revenue of 15 billion shekels ($4.1 billion). The socioeconomic cabinet, headed by Prime Minister Benjamin Netanyahu, on Sunday approved the proposal, which aims to sell off stakes in Israel's electric company, water provider, railway, post office and defense contractors and pay down the national...

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