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

Hot Telecommunication System Ltd. 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.

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