Telecoms Tycoon Patrick Drahi Confronts Altice Corruption Allegations: A Shocking Betrayal
Patrick Drahi, the Israeli-French telecoms and media mogul, directly addressed investors and analysts during a quarterly results call for Altice International to address concerns over a corruption probe involving its Portuguese subsidiary. The probe led to the arrest of Armando Pereira, a long-time collaborator and co-founder of Altice. Drahi expressed shock and disappointment and stated that if the suspicions are true, he will feel betrayed. Altice has commissioned an independent investigation and suspended payments to the supply companies implicated in the investigation. Drahi is expected to make further appearances at investor meetings and quarterly results calls in the coming months.