Patrick Drahi

Altice France looking at ‘multiple options’ to reduce debt pile

Patrick Drahi’s Altice France is looking at multiple options for the sale of assets as part of a drive to reduce the company’s debt pile. The choices on the table include the sale of the company’s data centres – the most advanced option – and other options which may be pursued in parallel, company executive […]

Altice: Drahi expresses ‘shock’ and ‘disappointment’ at alleged corrupt practices

Altice boss Patrick Drahi used the Altice International first half debt investors call today to express his “shock” and “huge disappointment” following the Portuguese police probe into Armando Pereira and other individuals linked to the company. “This has come as a shock and as a huge disappointment to me. If the allegations are true, I […]

Altice co-founder Pereira arrested in corruption probe

Altice boss Patrick Drahi’s close associate and group co-founder Armando Pereira has spent the weekend in custody after being detained by Portuguese police on suspicion of tax fraud, corruption and money-laundering. Another key Altice executive, Alexandre Fonseca, the company’s current co-CEO and chairman of Altice USA has meanwhile suspended himself today in a move believed […]

Patrick Drahi ups BT stake to 25%

French telecoms tycoon Patrick Drahi, owner of Altice, has upped his stake in BT to almost 25%. Drahi’s Altice UK vehicle lifted its share of the UK telco from 18% to 24.5%, or by about £960 million, according to reports. Altice UK has said it doesn’t plan to make an offer for BT and Drahi […]

UK government to take no action on Drahi stake in BT

The UK government is to take no further action in relation to French telecom tycoon Patrick Drahi’s stake in BT. “Following careful consideration, the government will take no further action on the acquisition of 5.9% shares by Altice in BT and the Final Notification has been issued to parties,” the Department for Trade and Industry […]

UK government set to block Drahi-BT takeover

The UK’s business minister Kwasi Kwarteng is expected to block the takeover of BT by Altice owner Patrick Drahi. According to sources in the City cited by ThisIsMoney, the government is also set to cap any further stake-building from Drahi and may stop him from taking a seat on the board. In December, Drahi increased […]

UK govt to probe Altice BT stake on national security grounds

UK business secretary Kwasi Kwarteng has called in Altice’s acquisition of an additional 6% stake in BT at the end of last year for a full national security assessment. The Department of Trade and Industry cited the government’s “powers under the National Security and Investment Act 2021 to scrutinise and- if necessary – intervene in […]

Altice’s Drahi in favour of TF1-M6 merger, looking to grow media business

Altice boss Patrick Drahi has told French legislators that he is broadly in favour of the planned merger between commercial broadcasters TF1 and M6 and has hinted that he would be interested in acquiring channels that may be put up for sale to secure regulatory clearance. Speaking to French senators in relation to preparation for […]

Patrick Drahi ups stake in BT, prompting government threat of intervention

Patrick Drahi’s Altice UK has upped its stake in BT to 18%, prompting warnings from the UK government that it may intervene to protect its “national telecom infrastructure” in the case of a foreign takeover. Altice UK has confirmed that it does not intend to make an offer for BT – although under Rule 2.8 […]

Patrick Drahi becomes biggest BT shareholder in £2.2 billion purchase

Patrick Drahi has acquired a 12.1% stake in BT for more than £2 billion. Via the creation of a new Altice UK brand, the Altice Group boss has invested £2.2 billion in the British telco to become its largest shareholder. Altice confirmed the stake – a total of 1.2 billion shares – had been acquired […]

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