Last month Eli Rozenberg, a US citizen now resident in Israel, offered to funnel $75 million into El Al Israel Airlines in return for a 45% stake in the failing company. However, Rozenberg's bid for a controlling stake in the airline is below the price that can be obtained in a public share offering and may struggle to gain board support, said a source close to the board who declined to be named.
"From my talks with members of the board, most are against the proposal," the source said. "Shareholders are opposed to it."
Eli Rozenberg is the son of Kenny Rozenberg, chief executive of New York-based nursing home chain Centers Health Care.
