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Exhibit 4.7

Agreement, dated March 26, 2008, between Bezeq, The Israel Telecommunications Corp.
 Limited and the Registrant(English Summary of
Agreement in Hebrew)

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|------------------- | -----------------------------------------------------------------------------------------------
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|Date:               | March 26, 2008                                                                                 
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|Parties:            | Seller: Bezeq, The Israel Telecommunications Corp. ("Bezeq")                                   
|                    | Purchaser: RRsat Global Communications Network Ltd. ("RRsat")                                  
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|Purchased Assets:   | Purchase of Bezeq's BezeqSat unit and 711 unit, including all transferable agreements,         
|                    | equipment, infrastructure and land and other rights related to the real property in Emek Ha'ela
|                    | teleport.                                                                                      
|                   
|Representations:    | Bezeq - authorization, disclosure, financial statements, no adverse change, litigation,        
|                    | contracts, assets and title to assets, licenses and approvals, related party transactions,     
|                    | appraisal and reliance.                                                                        
|                   
|                    | RRsat - authorization, due diligence, licenses and approvals, company status and reliance.     
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|Purchase Price:     | $15,000,000 plus VAT, of which $8,000,000 plus VAT related to real property.                   
|                   
|                    | Deposit of $3,000,000 plus VAT payable upon signing to be held in escrow until closing.        
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|                    | Amounts relating to real property purchase price to be held in escrow pending transfer of      
|                    | rights in real property in the name of RRsat.                                                  
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|                    | Downward purchase price adjustments depending on percentage of BezeqSat customer contracts and 
|                    | percentage of 711 customer contracts assigned to RRsat and if a material decrease in 2008      
|                    | revenues compared to 2007 revenues.                                                            
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|Covenants:          | Bezeq - business maintenance, delivery of data, obtaining licenses, transfer of antennas,      
|                    | employees.                                                                                     
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|                    | Joint covenants - obtaining licenses and approvals, hosting arrangement.                       
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|Closing Conditions: | Absence of legal limitation, approvals of Israel Lands Administration, Ministry of Defense,    
|                    | Ministry of Communications and Antitrust Authority, no material adverse change, scheduled third
|                    | party approvals, bring down of representations, approval of Bezeq's board of directors,        
|                    | approvals under certain Israeli laws and all other licenses required,                          
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|Indemnification:    | Bezeq - indemnify for breach of representations and covenants, liabilities associated with     
|                    | operation of business prior to closing, excluded assets and liabilities, absence of licenses   
|                    | and approvals, subject to specified limitations.                                               
|                   
|                    | RRsat - indemnify for liabilities associated with operation of business after the closing.     



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|Non-compete:   | Bezeq shall not compete with the acquired business for a period of three years from closing.
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|Governing Law: | Israeli law; Jurisdiction of Tel Aviv-Jaffa courts.                                         
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|Annexes:       | Annex A - Contract for the transfer of the real property.                                   
|               | Annex B - Hosting agreement.                                                                
|               | Annex C - List of BezeqSat unit assets.                                                     
|               | Annex D - List of 711 unit assets.                                                          
|               | Annex E - Financial statements.                                                             
|               | Annex F - List of BezeqSat customer contracts and 711 customer contracts.                   
|               | Annex G - List of licenses and approvals.                                                   
|               | Annex H - Schedule of exceptions.                                                           
|               | Annex I - Building permits.                                                                 
|               | Annex J - Related party transactions.                                                       
|               | Annex K - Appraisal of real property.                                                       
|               | Annex L - List of employees.                                                                

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