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Azrieli, Bezeq, Teva, Koor and Granite: Israeli Equity Preview

Oct. 5 (Bloomberg) -- The following stocks may rise or fall in Israeli markets. Stock symbols are in parentheses after company names and prices are from the last close unless otherwise stated.

The TA-25 Index tumbled 3.8 percent to 1,020.92 in Tel Aviv.

Azrieli Group Ltd. (AZRG IT): The real estate company is in talks to sell its Granite Hacarmel Investments Ltd. (GRNT IT) and Sonol Israel Ltd. units, Calcalist reported. “A number of people have approached us for the acquisition of Granite,” Azrieli Group said in a statement read by telephone. Azrieli shares rose 0.7 percent to 85.17 shekels. Granite, a marketer of petroleum and automobile products, increased 0.1 percent to 5.248 shekels.

Bezeq Israeli Telecommunication Corp. (BEZQ IT): The country’s largest communications company is studying yesterday’s recommendations by a Ministry of Communications committee that would require companies that own nationwide telecommunication networks to lease space to newcomers who will compete with them in the local market. The shares rose 1 percent to 6.845 shekels.

Koor Industries Ltd. (KOR IT): Discount Investment Corp. (DISI IT) raised its offer to acquire 3.3 million shares of the holding company to 38.5 shekels a share from 35 shekels. Koor shares fell 4.3 percent to 34.91 shekels. Discount shares lost 0.7 percent to 31 shekels.

Teva Pharmaceutical Industries Ltd. (TEVA IT): Merck KGaA’s Merck Serono unit will develop and market a pill for multiple sclerosis with Japan’s Ono Pharmaceutical Co. Teva, whose best selling product is a multiple sclerosis drug and which is developing the pill laquinimod to treat the disease, slid 5.3 percent to 133 shekels.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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