Drahi increases hold on HOT
By Julian Clover
October 14, 2009 08.32 UK
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.
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