Israeli Telecoms Firm Bezeq’s Top Holder Seeks to Exit Stake

The largest shareholder of Israel’s biggest telecommunications network is seeking to sell its remaining $834 million stake in the company.

SearchLight Capital-backed B Communications Ltd is looking to sell about 441 million Bezeq Israeli Telecommunication Corp. shares, at a fixed price of 6.20 Israeli shekels ($1.89) per share, according to terms seen by Bloomberg. There was enough demand to cover the deal size multiple times, messages said.

The shareholder has been selling down its stake in the telecommunications firm across overnight share sales this year, with the latest in August. The selldown follows a 22% rally in Bezeq’s shares this ...