Telecoms Tycoon Patrick Drahi Addresses Altice Portugal Corruption Allegations: “I Will Feel Betrayed”
deadline.comIsraeli-French telecoms and media mogul Patrick Drahi took the unusual step of directly addressing investors and analysts at a quarterly results call for Altice International on Monday in a bid to calm jitters over a corruption probe shaking its Portuguese subsidiary.
The move follows the arrest in Portugal on July 13 of long-time collaborator, Portuguese-French businessman Armando Pereira as part of an investigation into corruption, fiscal fraud and money laundering allegations. “This was a shock and a big disappointment for me,” Drahi told investors and analysts on Monday’s call. “If the suspicions of the Portuguese tax authorities turn out to be true, I will feel betrayed.
It means that a small group of individuals hid their actions and profited from some of our acquisitions, to the detriment of the group and my reputation,” he continued.
The address marked Drahi’s first personal comments on the corruption probe as well his first direct address to investors since 2017.
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