French businessman Patrick Drahi has reportedly completed his takeover of Israeli cableco HOT through investment vehicle Cool Holdings.
Drahi completed the deal on 28 November when Cool acquired around ten million shares at NIS 65.10 (US$17.3) per…
French businessman Patrick Drahi has reportedly completed his takeover of Israeli cableco HOT through investment vehicle Cool Holdings.
Drahi completed the deal on 28 November when Cool acquired around ten million shares at NIS 65.10 (US$17.3) per share, representing a premium of 38% for NIS 650m (US$172m), reported local daily Globes Online.
Through the investment vehicle, the businessman now owns 64% of HOT, with previous controlling shareholder Yediot Communications owning 3.5%, added the report.
In addition, Drahl has reportedly completed the sale of all of his shares in Israeli mobile operator Mirs to HOT.
HOT’s board approved the acquisition back in September for NIS 500m (US$133m) in cash, with an additional NIS 450m (US$120m) to be paid at a later date, add reports.
Mirs is the smallest of Israel’s four mobile phone operators. The other operators in the country are Cellcom Israel, Bezeq Israel Telecom’s mobile arm Pelephone, and Partner Communications.
