Tshuva wouldn't be carrying out the acquisition through Delek Group, but would pursue it through one of his private companies.
In any case, it's dubious whether Delek Group will have the wherewithal. Granted, it's deeply involved in the Tamar-1 exploration, which found a huge field of natural gas in the Mediterranean. But investment in Tamar-1 will be enormous, for one thing. Also, the various Delek Group companies will need their resources to cover existing liabilities. One such, a sore point for the group, is Phoenix Insurance's purchase of a stake in Excellence Nessuah for NIS 700 million, a transaction it has been trying to cancel.
Another snag in any plan to purchase a chunk of Leumi is Tshuva's current holdings: He already owns 2%-2.5% of Leumi, and controls Phoenix.
