The rule is 25% voting stock. A foreigner can own an additional 24.9% that does not have voting rights David R http://home.attbi.com/~damiross http://home.attbi.com/~damiross/books.html ----- Original Message ----- From: "Alireza Alivandivafa" <DEmocrat2n@xxxxxxx> To: <AIRLINE@xxxxxxxxxxxxxxxxx> Sent: Thursday, July 24, 2003 01:13 Subject: Re: [AIRLINE] El Al and North American > In a message dated 7/24/2003 1:07:34 AM Pacific Daylight Time, > mcb@xxxxxxxxxxxxxx writes: > > << 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. >> > > The rule is 25%, not majority >