Franco-Israeli risk-all billionaire Patrick Drahi had to step up to defend his telecom empire. ” A shock, a great disappointment “, this is the reaction of Patrick Drahi, after the arrest of the co-founder of Altice in Portugal in mid-July.
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For the first time since the start of this affair, the boss of Altice stepped up to defend his telecom and media group, during a conference with investors. Feeling ” betrayed and deceived by a small group of individuals ” whether “ the allegations are true “, he promised to make all the transparency on this affair which comes to weaken a very indebted company.
The affair broke out on July 13 with the search of the company’s local headquarters in Lisbon and the arrest of Armando Pereira, Patrick Drahi’s right-hand man.
Portuguese investigators are particularly interested in the sale of four buildings that belonged to the incumbent operator Portugal Telecom, bought by Altice. An operation that would have harmed the Portuguese State and Altice International to the tune of several million euros, according to CNN.
Armando Pereira, who no longer had an official mandate, but who still advised company executives, is suspected of eleven corruption and money laundering offenses.
The billionaire is also suspected of having set up a network of dubious suppliers with the aim of embezzling large sums of money via the group’s purchasing policy.
The investigation implicated three other leaders, and in total, Altice suspended around fifteen people in Portugal, France and the United States.
Patrick Drahi rarely speaks in public. But he had to try to reassure investors, especially since Altice has accumulated more than 50 billion euros in debt. The businessman assured that the scandal would have no impact on the finances of Altice International.
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