2023-08-06 16:12:08
Will Patrick Drahi be able to repay his approximately 60 billion debt on time? Or will he meet the same fate as Jean-Charles Naouri at Casino who failed to take on a debt ten times smaller? Bankers and markets have been on high alert since a dark corruption case in Portugal involving his right-hand man, Armando Pereira, caused Altice’s worst crisis of confidence ever.
Since then, several group managers, including a member of the “comex” in France, have been suspended. The Portuguese tax authorities continue to investigate Armando Pereira, following searches at his home on July 13. The unofficial number 2 of the group is suspected of having enriched itself considerably by overcharging Altice for services provided by companies… which belonged to it, on funds of tax evasion between Madeira, Dubai and Portugal, according to the Portuguese press.
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