French businessman Patrick Drahi, who controls Israel’s HOT Telecommunication Systems Ltd via Cool Holdings, has reportedly made an offer to acquire all of those shares he does not currently hold. According to Globes Online, with Drahi currently holding a 69.25% stake in HOT, the businessman has written to the telco’s board with a proposal to offer ILS37 (USD9.19) per share for all outstanding stock in deal which values the company at approximately USD2.7 billion. Noting that the price represented a premium of 12.5% over HOT’s average closing share price in July, Drahi has claimed that the offer represents a good opportunity for shareholders to liquidate their holdings
Originally posted here:
OVETEL Drahi looking to buy out all other HOT shareholders
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