Aurec Group

Aurec Group (from Latin: Aurum - gold, or from Hebrew: עורק - artery), is an Israeli holding company that includes cable and telecom investments.

[1] Aurec Group was founded by Morris Kahn, who immigrated to Israel from South Africa in 1956 and is now on the Forbes list of billionaires.

[3][4] In 1999, Aurec sold off its holdings in the Arutzei Zahav cable company to its partners, Eliezer Fishman and Yedioth Ahronoth, for US$40 million.

In 2000, Kahn also sold 51.5 percent of the Aurec Group's holdings in Golden Lines (Kavei Zahav) to Fishman, for $180 million.

Also in 2000, Aurec divested itself of its 50 percent holding in Netcom, a smaller provider of data communications networks.