Harel | Israel news feed

The Competition Authority requested an extension of the November 12 deadline. Harel agreed; Isracard said no.

Isracard's share price plunged in the past two weeks amid assessments that the deal with Harel would not go ahead, but it is up nearly 15% in today's session.

The Israel Competition Authority's opposition to the merger likely stems from the fact that Harel controls 37% of the health insurance market.

Harel is considering an appeal against the Competition Authority's nixing of the merger with the credit card company, while two other suitors await developments.

In the face of the Competition Authority's opposition, the board of insurance group Harel has decided not to pursue the deal to buy the credit card company.