Well, 24.9% + 25% = 49.9%, thus not majority ownership, which I think is the rule. The numbers would make it appear that was planned like that exactly to meet the foreign ownership law. -- Michael C. Berch mcb@xxxxxxxxxxxxxx On Thursday, July 24, 2003, at 12:57 AM, Alireza Alivandivafa wrote: > Ok, so El Al just sold back the 24.9% of North American that they had > owned. > It is reported that they had an option for another 25%. How is this > possible? DHL just had to be sold and Branson can't start a Virgin > here. > Does Israel get to get around the citizenship requirements too? >