In November 2004, Hot Telecom commenced providing domestic fixed line telephone services to residential and business subscribers.

The company's shares were traded on the Tel Aviv Stock Exchange and was a constitute of the TA-100 Index until its acquisition by Altice.

While these companies had pursued a union since the late 1990s in order to save administrative and content purchasing costs, and especially after Yes was founded in order to stop it before it could grow, the Israeli government monopoly regulator had denied it[citation needed] until the time when Yes had grown at least a minimum subscriber base.

[8] In February 2021, Israel's Ministry of Communications approved Hot's NIS 170 million investment in the fiber-optic infrastructure venture IBC, subject to a number of antitrust conditions.

On 12 February 2020, the United Nations published a database of companies doing business related in the West Bank, including East Jerusalem, as well as in the occupied Golan Heights.

[11] Hot Telecom was listed on the database on account of its activities in Israeli settlements in these occupied territories,[12] which the UN considers illegal under international law.