Internet Gold-Golden shareholder Eurocom receives repayment demand

By Caroline Salls

Pittsburgh, Nov. 27 – Internet Gold-Golden Lines Ltd. announced Friday that controlling shareholder Eurocom Communications Ltd. received a written demand from its banks to repay a substantial amount of debt.

According to an Internet Gold-Golden Lines news release, a substantial portion of Eurocom’s holdings in the company is pledged to the banks.

Eurocom is in discussions with the banks for the payment of its debt and intends to continue accelerated discussions in order to reach an agreement with the banks within a short period of time, the release said.

Internet Gold-Golden Lines said Eurocom believes that there is a “viable possibility” of reaching an agreement with the banks.

Internet Gold is a telephone and internet provider based in Ramat Gan, Israel.

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