The Israeli mobile industry has suffered a severe blow from the closure of the cell phone market, with the Israeli telecommunications giant, TeliaSonera, reported to have lost almost 10% of its business, due to the closure.
TeliaSonova was founded in 1997 by former Tel Aviv University graduate Daniel Levy, who had previously worked as a researcher for the Israeli National Telecommunications Commission (INTC) and as a consultant to the Israeli military.
In 2000, he was appointed to the top position of CEO, but left the company in 2011 to launch his own technology company, Telavision.
In 2016, he became the second Israeli billionaire to sell his stake in Telia, and became one of the biggest shareholders of Israel’s largest telecommunications company, ISL, which is controlled by his family.
Telia is one of Israel´s largest telecommunications companies, with over 4.2 billion subscribers.
In addition to its mobile business, Telias subsidiary is also a technology company that has been developing wireless technologies in the US and Europe.
The company also has a major stake in a cable television company, which it has invested heavily in in the past, including in a deal worth $300 million in 2016.
In 2018, Telias stock price jumped by nearly 50%, and by 2019, it was worth $3.8 billion.
Israel has been under intense pressure in recent years from its Palestinian neighbours, who want Israel to be part of a Palestinian state and to give them access to its territories, which Israel currently occupies.
Last year, Israel announced plans to build new settlements in the West Bank, with most of them located in East Jerusalem.
The TeliaSonder has been criticized for its policies and for its poor management.
A number of high-profile Palestinian activists have also complained about the way it has handled its business.
This is not the first time that Telia has been subject to criticism.
In 2017, it received an official reprimand for using its technology and investment funds to support the political agenda of a party that was opposed to Israel’s illegal occupation of the West.
But Telia said the company´s board is committed to achieving sustainable growth, and that the company would continue to invest in Telias strategic assets and strategic customers.
Telias CEO, David Katz, has previously said that Telias business strategy is based on the principles of innovation, entrepreneurship, and competitiveness, and in 2017, he said that “the Telia vision of the future is to be a technology and telecom company that will create a sustainable future for Telia and the Israeli economy.”