Bezeq Israel Telecom reported a slightly larger-than-expected fall in third-quarter profit on Monday and reiterated it was on track for a large 2019 loss after two major write-downs in its business units.

Israel's largest telecoms group, which is in the midst of a change in ownership, reported a profit of 191 million shekels ($55 million), down from 234 million a year earlier and slightly short of the 198 million forecast by analysts.

Bezeq attributed the decline mainly to higher financing expenses.

Revenue fell 2.3 per cent&nbsp;to 2.25 billion shekels, slightly above the 2.23 billion expected by analysts.

The company maintained its 2019 forecast of a net loss of 1.1 billion shekels.

Bezeq is the dominant telecoms group in Israel and owns mobile phone operator Pelephone, satellite TV firm YES and internet service provider Bezeq International.

"Bezeq is in the midst of a major restructuring with several parallel early retirement plans and cost-cutting measures," Barclays analyst Tavy Rosner said. "These are starting to pay off, as demonstrated by the 4 per cent&nbsp;decrease in salaries."

Last week the communications ministry approved the sale of a controlling share in Bezeq to the foreign private investor group Searchlight Capital Partners.

For the past few years Bezeq has been locked in a battle with the telecoms regulator over deployment of a fibre optics network, with Bezeq unwilling to meet demands it provide the service for 100 per cent&nbsp;of the country, saying that was not economically viable.

Rivals Cellcom and Partner Communications have started their own fibre networks.

This month the ministry said it was willing to ease up on its demands and would allow Bezeq to choose where to roll out its network.

"We hope that the new policy that will be formulated will enable us to launch fibre optic services for the private sector in Israel on an economic basis," CEO David Mizrahi said in a statement.

Rosner noted that although Bezeq was losing market share in fixed line, that will likely change once Bezeq and the regulator reach a final agreement.

Bezeq's shares were down 1.5 per cent&nbsp;in morning trade in Tel Aviv. They are down 23 per cent&nbsp;this year.

Bezeq Israel Telecom reported a slightly larger-than-expected fall in third-quarter profit on Monday and reiterated it was on track for a large 2019 loss after two major write-downs in its business units.

Bezeq Israel Telecom reported a slightly larger-than-expected fall in third-quarter profit on Monday and reiterated it was on track for a large 2019 loss after two major write-downs in its business units. Israel's largest telecoms group, which is in the midst of a change in ownership, reported a profit of 191 million shekels ($55 million), down from 234 million a year earlier and slightly short of the 198 million forecast by analysts. Bezeq attributed the decline mainly to higher financing expenses. Revenue fell 2.3 per cent to 2.25 billion shekels, slightly above the 2.23 billion expected by analysts. The company maintained its 2019 forecast of a net loss of 1.1 billion shekels. Bezeq is the dominant telecoms group in Israel and owns mobile phone operator Pelephone, satellite TV firm YES and internet service provider Bezeq International. "Bezeq is in the midst of a major restructuring with several parallel early retirement plans and cost-cutting measures," Barclays analyst Tavy Rosner said. "These are starting to pay off, as demonstrated by the 4 per cent decrease in salaries." Last week the communications ministry approved the sale of a controlling share in Bezeq to the foreign private investor group Searchlight Capital Partners. For the past few years Bezeq has been locked in a battle with the telecoms regulator over deployment of a fibre optics network, with Bezeq unwilling to meet demands it provide the service for 100 per cent of the country, saying that was not economically viable. Rivals Cellcom and Partner Communications have started their own fibre networks. This month the ministry said it was willing to ease up on its demands and would allow Bezeq to choose where to roll out its network. "We hope that the new policy that will be formulated will enable us to launch fibre optic services for the private sector in Israel on an economic basis," CEO David Mizrahi said in a statement. Rosner noted that although Bezeq was losing market share in fixed line, that will likely change once Bezeq and the regulator reach a final agreement. Bezeq's shares were down 1.5 per cent in morning trade in Tel Aviv. They are down 23 per cent this year.

Israel's Bezeq Tel third-quarter profit falls, headed for big 2019 loss

A confidant of Israeli Prime Minister Benjamin Netanyahu has agreed to provide testimony on behalf of the state about alleged corrupt dealings between the government and the country&#39;s biggest telecoms group, Israeli media reported on Wednesday.

Shlomo Filber, who was arrested this week along with top executives at Bezeq Telecom, had been a personal appointment of Netanyahu&#39;s to head the Communications Ministry.

Police now suspect Bezeq received regulatory benefits, and in return, Netanyahu received favourable media coverage on a popular news website that is also controlled by Bezeq&#39;s former chairman.

The Bezeq executives have denied the allegations.

Israel&#39;s Ynet news website reported that Filber has now agreed to testify for the state in the case, a development that could further complicate things for Netanyahu as he battles mounting corruption allegations.

Israeli authorities were not immediately available to confirm that a deal with Filber had been reached.

On Tuesday, police alleged that Netanyahu&#39;s former spokesman tried to bribe a judge to drop a fraud case against Netanyahu&#39;s wife. Netanyahu himself is suspect in two other investigations.

The right-wing leader, in office for 12 years since 1996, has denied wrongdoing in any of the cases, calling them a political &quot;witch hunt&quot;.

Shlomo Filber, who was arrested this week along with top executives at Bezeq Telecom, had been a personal appointment of Netanyahu's to head the Communications Ministry.

A confidant of Israeli Prime Minister Benjamin Netanyahu has agreed to provide testimony on behalf of the state about alleged corrupt dealings between the government and the country's biggest telecoms group, Israeli media reported on Wednesday. Shlomo Filber, who was arrested this week along with top executives at Bezeq Telecom, had been a personal appointment of Netanyahu's to head the Communications Ministry. Police now suspect Bezeq received regulatory benefits, and in return, Netanyahu received favourable media coverage on a popular news website that is also controlled by Bezeq's former chairman. The Bezeq executives have denied the allegations. Israel's Ynet news website reported that Filber has now agreed to testify for the state in the case, a development that could further complicate things for Netanyahu as he battles mounting corruption allegations. Israeli authorities were not immediately available to confirm that a deal with Filber had been reached. On Tuesday, police alleged that Netanyahu's former spokesman tried to bribe a judge to drop a fraud case against Netanyahu's wife. Netanyahu himself is suspect in two other investigations. The right-wing leader, in office for 12 years since 1996, has denied wrongdoing in any of the cases, calling them a political "witch hunt".

Confidant of Israel's Netanyahu turns state's witness in corruption case: Reports

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Israel's Bezeq Tel third-quarter profit falls, headed for big 2019 loss

Confidant of Israel's Netanyahu turns state's witness in corruption case: Reports