Unlikely that Government Will Have Economic Reason to Block ICL Sale

Bloomberg reported that Bank of Israel’s Governor Stanley Fischer believes that the governnment will not have any valid economic reason to block the sale of ICL to PotashCorp.

As quoted in the market report:

In terms of economic activity, if they continue producing here, there is no major reason not to sell,” Fischer said today in an interview at his Jerusalem office. “Profits would be moved abroad instead of kept in the Israeli economy, but the main thing we would be interested in is loss of jobs and that wouldn’t necessarily happen.

To view the whole Bloomberg report, click here.