The controlling shareholders of Bezeq Israel Telecom on Tuesday sold 3.6% of the country's largest telecom group in a deal worth NIS 750 million.

Media mogul Haim Saban, private equity firm Apax Partners, and Mori Arkin, the controlling shareholders of the telecom group, sold 95.6 million shares which were distributed by Citigroup Global Markets to foreign investors and Leader Capital Markets to local institutional investors.

Following the sale the controlling shareholders' stake dropped to 30.68%, or 814.2 million shares from 40% previously.