The Ticker: Tel Aviv Shares Join Global Market Downturn
Summary
Tel Aviv shares fell sharply on Thursday as world markets slumped amid concerns about China and a slowing global economy. Lawyers for the TASE said the Nasdaq project, which aims to help young high-tech companies, had nothing to do with the restructuring plans and workers had no reason to boycott it. (Shelly Appelberg) Gazit Globe sells control of ailing U. Dori Group for just 10 million shekels Amos Luzon, one of the owners of the Maccabi Petah Tikva soccer team, has acquired control of the financially troubled U. Dori Group from Gazit Globe, TheMarker has learned. Luzon, who is best known for his sports-related activities but owns a shopping mall and is a partner in several residential building projects, is taking on a major risk with Dori, whose debts are still be sized up by auditors and may require substantial infusions of capital. (Eran Azran and Michael Rochvarger) Formula Systems and the state-owned Israel Aerospace Industries said yesterday they had agreed to buy the military arm of Ness Technologies for $50 million in cash.