George Horesh

George Horesh and Discount Bank are attempting to revive their 4 billion shekel CAL acquisition deal by introducing a third-party investor to overcome competition authority objections.

Israel Discount Bank has petitioned state regulators to cancel its mandated sale of credit card company CAL to the Horesh-Harel group, citing prohibitive conditions imposed by the Competition Authority that threaten the 4 billion shekel deal.

The Competition Authority has set strict conditions for approving the acquisition of CAL by the Union group and Harel. Parties are in negotiations, but disagreements over control and data access threaten the deal's completion.