Billionaire Drahi Sees ‘No Impact Whatsoever’ on Altice From Portugal Corruption Probe
- Man at center of probe advised SFR chief executive until July
- Altice France management said its is looking to cut debt
The Altice logo on the company headquarters in Lisbon, Portugal.
Photographer: Zed Jameson/BloombergThis article is for subscribers only.
French-Israeli billionaire Patrick Drahi says a corruption probe into executives central to his telecommunications empire Altice is having “no impact whatsoever” on the company’s operations.
Meanwhile, Altice USA has frozen some capital spending as it reviews its supplier relationships. The broader Altice group is conducting internal audits around the world, looking into procurement practices. More than a dozen employees have been suspended in relation to the allegations of corruption, money laundering and tax fraud. And according to people familiar with the situation, Altice’s supply chain has been thrown into a state of upheaval.