B Communications, Bezeq’s Controlling Shareholder, Appoints Ajit Pai, Former Chairman of the U.S. FCC, to its Board of Dire...
04 Mai 2021 - 8:00AM
B Communications Ltd. (NASDAQ Global Select Market and TASE: BCOM)
(“BCOM”), a holding company with a controlling interest in Israel’s
largest telecommunications provider, Bezeq, The Israel
Telecommunication Corporation Limited (“
Bezeq”)
(TASE: BEZQ), today announced the appointment of Ajit Pai, the
former Chairman of the U.S. Federal Communications Commission
(“FCC”), to its Board of Directors, effective May 4, 2021.
Prior to joining Searchlight Capital Partners, L.P.
(“Searchlight”) as a Partner, Mr. Pai was the Chairman of the FCC,
which he led from 2017 until 2021. He first joined the FCC as a
Commissioner in 2012. During Mr. Pai’s tenure as Chairman, he
implemented major initiatives to help close the digital divide;
advance U.S. leadership in 5G, Open Radio Access Networks, Wi-Fi 6,
and other wireless technologies; promote innovation; protect
consumers, public safety, and national security; and make the
agency itself more open, transparent, and data-driven.
"I am thrilled that Ajit is joining our talented board, and I
look forward to BCOM benefiting from his extensive experience in
telecommunications and regulation which spans more than 20 years,”
said Tomer Raved, BCOM CEO. “It’s great to see such a high-caliber
individual joining Israel’s leading telecom group. Ajit’s
perspectives and understanding of the next generation communication
infrastructure underscores our focus on bringing Israel to the
forefront of telecommunications, where this country belongs.”
Earlier in his career, Mr. Pai served in various positions of
increasing responsibility at the FCC, the U.S. Department of
Justice and the U.S. Senate. Before joining the FCC, he worked as a
Partner at the law firm of Jenner & Block and as in-house
counsel at Verizon Communications.
Commenting on his new appointment, Mr. Pai added: “I am
delighted to join BCOM’s board to help support Bezeq’s significant
contributions to the Israeli digital infrastructure sector. I
am deeply passionate about the potential of communications
technologies to improve people’s lives. The past year has
underscored the importance of these technologies to consumers in
Israel, as well as those around the world. Looking ahead, stronger
digital infrastructure will be critical as Israel continues what
has been called its transition from a start-up nation to a scale-up
nation. I look forward to helping BCOM and Bezeq achieve this
vision of a fully-connected Israel, drawing in part on my previous
experience leading a novel collaboration between the U.S. and
Israel governments on digital infrastructure.”
Darren Glatt, Partner at Searchlight and Chairman of the BCOM
Board of Directors added: “Given our strong presence in the digital
infrastructure space and Ajit’s distinguished career in the
industry, we are excited to have him join the BCOM board. His
achievements at the FCC had a substantial impact on the broadband,
wireless, and broadcast sectors, and his deep knowledge will be
invaluable to BCOM and its efforts to support Bezeq around its
strategic initiatives to continue to bring best-in-class
telecommunications services to Israeli businesses and
consumers.”
About B Communications Ltd.
B Communications Ltd. is a holding company with a controlling
interest in Israel’s largest telecommunications provider, Bezeq.
BCOM is controlled by its majority shareholders, Searchlight
Capital Partners, L.P. (60.18%) and T.N.R Investments Ltd (11.39%).
Our controlling shareholders have extensive telecom experience and
financial strength, representing significant business and
management added value for the Bezeq Group. Searchlight has proven
and successful experience in global investments in communications
companies as well as upgrading processes such as infrastructure and
technology.
About Searchlight Capital Partners, L.P.
Searchlight is a global private investment firm with over $8
billion in assets under management and offices in New York, London
and Toronto. Searchlight seeks to invest in businesses where its
long-term capital and strategic support accelerate value creation
for all stakeholders. For more information, please
visit www.searchlightcap.com.
Media Contact Yuval Dadush Scherf
Communications yuval@scherfcom.com
B Communications (NASDAQ:BCOM)
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