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Bezeq Drops as S&P Cites Dividends in Rating Cut: Tel Aviv Mover

Bezeq Israeli Telecommunication Corp. fell to the lowest level in two weeks on bets a ratings cut by Standard & Poor’s Maalot may prompt the country’s largest fixed-line provider to curb dividend payments.

Shares of the company, which also offers mobile phone services, dropped 1.1 percent to 4.609 shekels, the lowest close since Feb. 12 in Tel Aviv. The stock was the second-worst performer on the TA-25 index in 2012 after Cellcom Israel Ltd., dropping 39 percent as competition in the telecommunications industry intensified.