Macrolink Group Limited is no more seeking acquisition of 55% stake in Clal Insurance Enterprises Holdings Ltd. (TASE:CLIS) from IDB Development Corp. (TASE: IDBD). Macrolink decided to end purchase negotiations over concerns about receiving the regulatory permit that arose after meeting with the Israeli regulator, IDB said in a statement to the Tel Aviv bourse, adding that it is not currently in talks with other buyers.

IDB Development Corp may now sell the stake in Clal Insurance through the Tel Aviv Stock Exchange which will result in a loss. After months of negotiations and the expiration of the deadline set by Supervisor of Capital Markets, Insurance, and Savings Dorit Salinger, the deal was called off. No binding agreement for the sale was signed.