Hot Rises to 3-Year High in Tel Aviv on Loan, License Report

Hot Telecommunication System Ltd. rose to the highest level in almost three years as the Israeli cable television company signed a loan-refinancing agreement and TheMarker reported it will get an internet license.

The shares advanced 3.7 percent to 57.40 shekels, the highest intraday level since January 2008, at 12:25 p.m. in Tel Aviv.

Hot signed a memorandum of understanding with Bank Leumi Le-Israel Ltd. and Bank Hapoalim Ltd. to borrow as much as 3.4 billion shekels ($939 million). The company will also use the funds to distribute dividends, it said.

Separately, TheMarker reported the company will today receive a license to provide Internet services from the Ministry of Communications.

To contact the reporter on this story: Ronit Goodman in Tel Aviv at

To contact the editor responsible for this story: Claudia Maedler at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.