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April 7, 1997updated 05 Sep 2016 12:54pm


By CBR Staff Writer

The Israeli government has approved a plan to sell a 25% stake in Bezeq Israel Telecommunications Ltd, which will reduce its holding to 51%, by the end of the year, a government official said. Moshe Leon, Prime Minister Benjamin Netanyahu’s chief economics adviser, said the plan to sell the 25% stake called for selling part of the shares – probably 10% – through a public offering in the Israeli capital market. The rest would be sold by means yet to be determined, he said. Israel has been in lengthy negotiations with Cable & Wireless Plc, which has about 12%, over the firm’s future role in Bezeq but officials said no agreement had yet been reached.

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