Cool Holdings, the investment vehicle of businessman Patrick Drahi, is to take its ownership in HOT Telecommunication Systems to 65% from its present 51.7%.

According to Israeli daily Globes, Cool has acquired shares from Fishman Holdings, and the Yediot Communications. The NIS 650 million (€131.73m) purchase price for the 10,012,003 shares held by Yediot represents a 13% premium on Thursday’s closing price of NIS 57.34.

The Fishman shares were purchased last October.

Drahi plans to merge HOT with mobile carrier Mirs Communications