On January 16, 2018, Elliott Advisors (UK) Limited released a letter to Bezeq The Israeli Telecommunication Corporation Ltd.'s interim Board Chairman David Granot. In the letter, Elliott Advisors described the current problems that undermine the Company's potential, including the Company being part of a 3 layer leveraged holding pyramid with multiple conflicts and misaligned incentives. Elliott Advisors stated that it calls for the removal of at least 1 layer of the leveraged pyramid to more closely align the governance of the Company with its economic ownership.

Elliott Advisors stated that it has outlined the urgent need to address the Company's serious corporate governance issues, and calls for changes at the Board level, including the immediate resignation of all the directors who were implicated in Israel Securities Authority investigations, and/or affiliated with Eurocom.