Clal Drops to 3-Year Low as China's Macrolink Walks Away

  • Sale of IDB's Clal Insurance holding stumbles on regulation
  • Regulator says IDB must divest controlling stake in company

IDB Development Ltd. and its subsidiary Clal Insurance Enterprises Holdings Ltd. plunged after China’s Macrolink Holding Company Ltd. walked away from talks on buying the Israeli insurer due to regulatory uncertainty, IDB said in a statement.

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