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Altice Boss Patrick Drahi Addresses Investors Amidst Corruption Scandal

(AFP) – Patrick Drahi, boss of the Altice group, will meet his investors in London and New York, respectively on Wednesday and Thursday, we learned from the company on Tuesday, while his telecoms and media empire is weakened by a scandal. corruption in Portugal.

This will be his second speech since the start of the affair. The Franco-Israeli billionaire told analysts in early August that he felt ” betrayed and deceived by a small group of individuals » and announced from « extensive international surveys internal, after the arrest in Portugal of his right-hand man and co-founder of Altice, Armando Pereira.
During his first speech, Mr. Drahi had also assured that this scandal would not have ” no impact on the finances and forecasts of its Altice International branch, in order to reassure the markets, alarmed by the affair as much as by the group’s heavy debt – of nearly 60 billion euros in total.

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The group has already started to clean up

Armando Pereira was arrested in Lisbon on July 13 and indicted as part of an investigation into corruption and money laundering. ” We immediately suspended around 15 people in Portugal, France and the United Statesfollowing an internal investigation, had again announced Mr. Drahi, promising to ” all the transparency on this case.

The group has already started cleaning up. After the arrest of Mr. Pereira, Altice suspended Tatiana Agova-Bregou, the executive director of content, acquisitions and partnerships, implicated in listening to Portuguese justice. In addition, Alexandre Fonseca, co-CEO of Altice, former executive chairman of Altice Portugal and appointed in March at the head of the American subsidiary, communicated himself on LinkedIn his withdrawal. Yossi Benchetrit, head of purchasing in the United States and son-in-law of Armando Pereira, was fired“, had again announced the new leader of Altice USA, Dennis Mathew

2023-09-06 08:05:16
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