HOT Telecommunications Systems Ltd, the operator of the Israeli cable platform HOT, is to buy Mirs Communications for NIS500 million (€99.2 million) in cash and NIS450 million in future payments.
According to the Jerusalem Post, this follows HOT institutional investors’ decision to finally approve the deal after they had previously opposed it on the grounds of an initial asking cash price of NIS1 billion.
Mirs Communications has until now been owned by Patrick Drahi, who already holds a 65% stake in HOT through Cool Holding Ltd.
