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Bethel Finance news:
Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL) has become a party at interest in wireless backhaul solutions developer Ceragon Networks Ltd. (Nasdaq: CRNT; TASE:CRNT) said the company in a filing with the US Securities and Exchange Commission (SEC).
Migdal owns 1.8 million Ceragon shares, amounting to 5.2% of the company. The holding is worth $12.7 million. Zohar Zisapel owns 13.9% and his brother, and Yehuda Zisapel owns 6.3%, through their company RAD Data Communications Ltd.
Ceragon's share price hit a 15-month low on Friday, after falling 3.1% on Nasdaq on Friday to $7.27, giving a market cap of $262 million, and falling 2.3% by early afternoon on the TASE to NIS 27.62. The losses are in line with its telecommunications equipment peers, after Nokia Siemens Networks announced that it will fire 17,000 employees over the coming years.
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