Much to my delight and continued intrigue, the Delek Drama continues. They appear to have decided to sell off 4.9% of their Phoenix shares at a time and have done so twice this week to Israeli banks. According to Globes, as far as anyone knows the basically China-owned Siriusstill owns 4.9% and apparently they are waiting for Supervisor of Capital Markets Dorit Salinger to make her exit and try their luck with whoever her replacement might be. (Remember - Ms Salinger blocked the Sirius deal and more of Delek’s previous would-be Chinese suitors).
Last week there was a kind of mysterious rumor going around that ColorChip was probably being acquired by someone (likely a Chinese someone) for $300m. Well friends, mystery solved! The buyer is Sanan Optoelectronics.
This week we’ve got just a few headlines, but I’m betting next week we’ll be swimming in them because #DLD.
And remember, startups: you have until Sept 15th to apply to your not-so-typical startup competition that I tell you all about below.
A big Shana Tova to everyone! See you in 5779!
Enjoy the newsletter, and as always give me a shout with thoughts and questions, or just to say hello.
China-Israel Business News Digest
Headlines here; go ahead to the website for summaries and original articles.
Hong Kong’s Financial Secretary in Israel.
China-Israel Innovation Center in Hangzhou.
Nano Dimension Signs Strategic Cooperation Agreement with Shandong Guohui Fund Management.
China's Sanan Optoelectronics in Talks to Buy Israeli Communication Chips Company ColorChip for $300m.
Access all summaries and original articles on the website.
Featured: Your not-so-typical startup competition
No Chinese contacts? No problem. Never been to China? Not an issue. Not really sure how to mosey into the largest, fastest moving market in the world? Friends, grab your favorite beverage and gather ‘round; I’m about to tell you about your not-so-typical startup competition. The win is in the journey, not at the destination. Boom. Read more.
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