Discount opts not to sell stake in Hadera Paper

TEL AVIV, Dec 29 (Reuters) - Israeli holding company Discount Investment Corp (DISI.TA) said on Tuesday it has decided against selling its stake in Hadera Paper (HAP.TA) at this time.

It did not provide further details in a statement to the Tel Aviv Stock Exchange.

A month ago, Discount said it was considering a reorganisation of some of its holdings, including the possibility of selling its 21 percent stake in Hadera Paper (AIP.A) to its sister company Clal Industries (CII.TA).

Discount, one of Israel's leading holding companies, owns major stakes in Cellcom (CEL.TA) (CEL.N), Israel's top mobile phone operator, MA Industries (MAIN.TA), the world's biggest maker of generic agrochemicals, and Israel's largest supermarket chain Super-Sol (SAE.TA).

Hadera Paper's shares were up 3.1 percent, while shares of Discount were 1.6 percent higher in morning trading in Tel Aviv, outpacing gains of 0.8 percent on the broader bourse. (Reporting by Steven Scheer; Editing by Mike Nesbit)