Shares in Africa Israel Investments were down 2.6 percent at 1256 GMT, compared with a decline of 0.6 percent in the broader market. Shares in Africa Israel Properties were up 0.2 percent.
The Globes financial newspaper had reported that Africa Israel was in talks to sell all of its shopping malls in Israel to the Azrieli Group for 1.7 billion shekels ($506 million).
The Azrieli Group, controlled by Canadian businessman and real estate developer David Azrieli, owns several shopping centres in Israel.
