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Reported

News Brief

  5/21/2013, Sivan 12, 5773

C'tee Vote on Toughening Concentration of Wealth Laws


The Knesset Finance Committee is scheduled to vote, Tuesday, on government-generated legislation to promote competition and minimize centralization of wealth. It would require "pyramid" companies under the control of tycoons through small equity or leveraged credit to sell close to 600 companies within six years.

Under the proposal, the pyramid companies would be required to "fold" upward or sell all the companies from the third tier downward.