The French businessman Patrick Drahi has increased his stake in the Israeli operator HOT Cable Systems. Drahi’s Cool Holdings recently took its stake to 33%, having purchased an additional 12.86% at a cost of NIS 342 million (€61.92 million).
Drahli’s influence is such that HOT chairman Isia Tchetchik and CEO Herzl Ozer yesterday (October 13) travelled to Paris for a strategic meeting. It comes ahead of plans by HOT to introduce a new DOCSIS 3-based high speed internet service.
Drahli, the founder of Altice, the key investor in the French cablenet Numericable, made his first investment in HOT in May this year.