A consortium that includes Israeli-American billionaire Haim Saban's investment company has agreed to sell its controlling interest in Israel's largest telecommunications provider for $1.6 billion.A statement to Israel's stock exchange Sunday said the Saban Capital Group's consortium would sell its shares in Bezeq to 012 Smile, a smaller provider of Internet and long-distance services. Saban's partners include private equity firm Apax Partners and local businessman Mori Arkin.
Saban is best known for bringing the Power Rangers TV series to the U.S. Israeli media have said his consortium is netting more than $500 million from the Bezeq deal.
Bezeq supplies millions of Israelis with land lines, cell phone service and satellite TV through various subsidiaries.
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