Bezeq Telecom shareholder to sell 4.5 pct stake
JERUSALEM, Oct 19 (Reuters) - The receiver holding Zeevi Communications' minority stake in Bezeq Israel Telecom (BEZQ.TA: Quote, Profile, Research) reached an agreement with UBS to sell another 4.52 percent in Bezeq for 976.8 million shekels ($264 million).
The 120 million shares will be sold at 8.14 shekels each, Bezeq said in a statement to the Tel Aviv Stock Exchange on Monday.
Shares of Bezeq, Israel's largest telecoms group, were down 0.8 percent at 8.28 shekels in late morning trade.
Zeevi holds 304 million shares, or an 11.5 percent stake in Bezeq.
The shares were placed into receivership after businessman Gad Zeevi went bankrupt six years ago.
In August, the receiver sold 155 million shares, or a 5.84 percent stake, in Bezeq through UBS at 7.43 shekels a share for a total of 1.15 billion shekels that reduced Zeevi's stake from 17 percent.
The receiver will not make another deal with the rest of Zeevi's shares until at least Dec. 1, Bezeq said.
Bezeq, which has a market value of 22.2 billion shekels, is 31 percent owned by a group led by media mogul Haim Saban and private equity firm Apax Partners. Some 57.7 percent is floated on the TASE. ($1 = 3.70 shekels) (Reporting by Steven Scheer)
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