Cool to get more Hot

Israeli cable operator Hot Cable Media Systems is to sell a 12.68% stake of the company to French businessman Patrick Drahi’s Cool Holdings.

Cool Holdings already controls 17.6% of Hot, having bought a 15% stake from Bank Leumi Le Israel in May. The 9.7 million shares making up 12.68% of the company are worth approximately ILS349m (€63.4m).