Patrick Drahi Says Altice France’s BFM TV & RMC Networks Not For Sale As He Sets Out Debt Reduction Plan
deadline.comTelecoms tycoon Patrick Drahi told an earnings call for Altice France on Tuesday his main priority for the subsidiary was to reduce its $26 billion debt but the sale of its media assets – comprising the BFM TV and RMC TV and radio networks – was not on the cards.
In a rare move for the Israeli-French billionaire, Drahi was talking directly to analysts for the second time this week as he attempts to calm market jitters sparked by a corruption probe involving Altice Portugal and Drahi’s long-term business associate Armando Pereira.
The revelation has prompted closer scrutiny of the entire Altice parent group – spanning Altice International, Altice France and a stake in Altice US.
As well as raising questions about the governance of the group, some market commentators suggest the affair will impact its options for servicing its estimated combined $60 billion worth of debt.
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