Israel’s Bezeq raises bid for rival HOT Mobile from Altice to $727 million

JERUSALEM: Israeli mobile ‍phone company Pelehone raised its offer to buy ⁠rival HOT Mobile from Patrick Drahi’s Altice International to 2.3 billion shekels ($727 million) ‌from ‌2.1 billion after a preliminary agreement did not ‌lead to a binding deal.

Pelephone and Altice had reached a preliminary agreement in November.

French-Israeli businessman Drahi has been trying to divest assets to pay down Altice’s ‌massive debt ‍load.