Billionaire Drahi to Speak as Altice Corruption Probe Widens

Billionaire Drahi to Speak as Altice Corruption Probe Widens

The vast telecoms business of billionaire Patrick Drahi, Altice, is reeling from Altice The vast telecoms business of billionaire Patrick Drahi, Altice, is reeling from news of a criminal probe in Portugal. Corruption Probe Widens news of a criminal probe in Portugal.

About a dozen executives and 60 suppliers in Portugal, France, and the US have been suspended as a result of the investigation into possible corruption, money laundering, and tax fraud, sending some of Altice’s bonds into serious trouble.
As a result of years of aggressive acquisitions, the group’s debt load has grown to more than $60 billion; this debt is becoming more expensive to service as interest rates increase.

According to the business, it was a victim of the alleged wrongdoings.a corporation that offers Israel phone services, internet access, and television programming from the US.

The company was established in 2002 by Drahi, a multibillionaire The vast telecoms business of billionaire Patrick Drahi, Altice, is reeling from news of a criminal probe in Portugal. French-Israeli who resides in Switzerland, along with two partners.

Including those of the French carrier SFR Group SA, Suddenlink Communications.

Cablevision Systems Corp. in the US. The business is currently divided into various divisions.

After Altice USA was listed in 2017. Drahi investment vehicle Next Alt Altice Corruption. Widen Sarl holds a share the company. Drahi business became share holder airline business.

It entirely controls operations in Portugal, Israel, and the Dominican Republic. Which are combin under Altice International. As well the brand through Altice France.

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His enormous telecoms company. Altice as the victim of an alleged scam committed by his longtime partner Armando Pereira.

On a teleconference with debt investors on Monday, the Franco-Israeli businessman stated, “This has come as a shock and as a huge disappointment to me.

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I can tell you that we take this issue seriously and are acting quickly and pro-actively.

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Dihi knew both and Pereira remark . That they built a close internal partnership over their many years of working together.

Pereira was in charge of cost-cutting every time Altice acquired a new company. Spite the fact two referr founder.

Drahi made an effort to distance himself from Pereira on Monday by Altice Corruption Probe Widens referring to him as a manager he had employed in 2003.

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Using the gift article service, subscribers may share up to 10 or 20 articles each month. You can get additional details atThe structure of his economic. Interest changed over time, and as of 2005 Drahi stated.

He did not own a single share or right in any of the Altice. Entities merely maintained a car interest of around of my personal economic interest.

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Additional information is available this economic interest was structur. Differently throughout time and as according to Drahi.

He did not own a single share or right in any of the Altice entities. Altice Pro Widen merely , car terest of around of my personal, economic interest.

The company Altice which provides broad and mobile services in the USA and rope been shaken.

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