Drahi: If Altice corruption allegations are true, I feel ‘betrayed’

Patrick Drahi, the billionaire founder and controlling shareholder of Altice International, publicly addressed the corruption allegations that have recently surfaced involving the company's Portuguese operations.

Speaking during a Q2 2023 call for debt investors, Drahi expressed shock and disappointment over the allegations and stated that if proven true, he feels "betrayed and deceived."

The corruption probe, which came to light last month, centres around procurement...

8 August 2023 | 5G

Altice co-founder detained in corruption investigation

Altice co-founder Armando Pereira has been detained following a search of his home in Vieira do Minho, Braga.

The investigation – which involves suspicions of corruption, tax fraud, and money laundering – also resulted in the arrest of two other individuals.

Authorities conducted searches at various locations, including the former headquarters of Portugal Telecom (PT) – which became Altice Portugal in 2018 – in Lisbon, as well as the residence of Hernâni Vaz...

17 July 2023 | Broadband

EU greenlights Vodafone-Altice FTTH plans

The EU Commission has given the green light to a joint venture between Vodafone and Altice to deploy fibre-to-the-home (FTTH) across Germany.

The joint venture is called FibreCo and will see the partners deploy FTTH to up to seven million homes over a six-year period.

Nick Read, CEO of Vodafone Group, commented:

“This partnership builds on Vodafone’s significant next-generation network with Altice’s industrial expertise and proven Fibre-to-the-Home...

21 February 2023 | Broadband

Altice fuels takeover concerns as its BT ownership increases to 18%

BT Tower

Altice, the telecoms group of French billionaire Patrick Drahi, has increased its ownership of BT to 18 percent from 12.1 percent.

Drahi’s growing interest in BT has fuelled concerns amongst the company’s leadership and the UK government, with a Downing Street spokesperson stating the “situation is being monitored carefully”.

The French billionaire, known for being a prolific dealmaker, shocked the industry in June when his company paid £2.2 billion for a 12.1...

16 December 2021 | Legislation & Government

Altice takes 12.1% stake in BT due to ‘compelling’ full-fibre opportunity

French telecoms giant Altice has taken a 12.1 percent stake in BT to become the company’s largest stakeholder.

Altice, a company owned by billionaire Patrick Drahi, has established a UK subsidiary for the purposes of holding a stake in BT.

Despite acquiring such a sizable stake in BT, Altice UK says that it does not intend to make a takeover bid of the country’s largest telecoms operator.

Altice UK says its interest in BT is due to the “compelling...

10 June 2021 | Networks