Isaac Wolfson, British chain store owner, and Petro-france, French oil company, have purchased the holdings of British Shell in Israel for 5, 000, 000 pounds sterling ($14, 000, 000), the Israeli press reported this week-end.
(A report emanating from British business circles stated that the agreement between Wolfson-Petro-france and the Shell interests was not yet final. It noted that the deal was for all property and assets except the refineries at Haifa.)
Several months ago, Shell and the British Petroleum Company, in which the British Government has an interest, announced their intention of closing their operations in the Jewish State. Though the companies, and the British and Dutch Governments, both of which have financial holdings in the companies, have insisted the action was dictated by commercial considerations alone, the move was generally interpreted as a surrender to Arab boycott threats.
JTA has documented Jewish history in real-time for over a century. Keep our journalism strong by joining us in supporting independent, award-winning reporting.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
