Labor Chairman and opposition leader Isaac Herzog accepted the decision by the party's presidential hopeful MK Binyamin Ben-Eliezer to withdraw his bid from Tuesday's election amid a graft investigation.

"I received MK Binyamin Ben-Eliezer's decision to withdraw from the presidential race. I respect him and his decision, and I hope for his sake that the truth is revealed," Herzog said in a statement on Saturday.

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Herzog said his faction would convene in the coming days to discuss the upcoming election.

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