Israel sells final 1% stake in Bezeq

21 Feb 2014

The Israeli government has sold its final remaining 0.97% stake in the country’s largest telecoms group Bezeq to an unnamed buyer for ILS150.7 million (USD43 million), reports Reuters. The Finance Ministry said on Thursday that it sold 26.4 million shares of Bezeq Israel Telecom at a 0.3% premium to Bezeq’s average share price in the last week, having received six offers from institutional investors. Israel sold a controlling 30% stake in former monopoly telco Bezeq in 2005 for ILS4.2 billion. Bezeq is currently controlled by B Communications (formerly 012 Smile.Communications) with a 31% stake, while a majority of shares are floated on the Tel Aviv Stock Exchange.

Israel, Bezeq (Israel Telecommunication Corporation)