Foreign investors in international calls providers Barak International Communications and Golden Lines want to withdraw from their investment with the companies' planed merger, Ma'ariv reports.

Barak and Golden Lines have recently renewed negotiations on the merger.

Some foreign shareholders said they want to withdraw from their investment after shareholders were presented with a working paper by Credit Suisse First Boston that is to serve as a basis for the merger negotiations.

The paper said that Golden Lines should own 60% to 80% in the merged entity, given Barak's hundreds of millions of shekels in bond debt.

Clalcom controls Barak, whose investors include Sprint, Deutsche Telekom (NYSE:DT) and France Telecom (NYSE:FTE).

Golden Lines is controlled by businessman Eliezer Fishman and Telecom Italia (NYSE:TI).