Hot Climbs to Three-Week High as Cool Holding Says No Stake Sale

Hot Telecommunication System Ltd. (HOT) headed for the highest close in three weeks after Israel’s second-largest fixed-line operator said controlling shareholder hadn’t signed a stake-sale agreement.

The shares of Hot, also a provider of cable television services, rose 3 percent to 42.40 shekels, poised for the highest close since March 5 at 12:37 p.m. in Tel Aviv.

Calcalist reported French businessman Patrick Drahi is in talks with Blackstone Group LP to sell 20 percent of Cool Holding Ltd. through which he holds Hot.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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