2023-08-08 19:06:38
A new page is opening for Altice, twenty years following its creation, and for its founder, Patrick Drahi. The era of mega-acquisitions is definitely over. On Tuesday, the boss of SFR and the BFM channels announced a 180 degree turn, explaining that the debt reduction of Altice (which accumulates around 60 billion in debt between France, the United States, Portugal and Israel) was going to be his only priority. “We will resolve the situation,” even promised Patrick Drahi, as the group will face its first major repayment deadlines in France in 2027 and 2028.
The billionaire, under pressure since a corruption scandal in Portugal involving his ex-right-hand man broke out three weeks ago, announced it personally to financial analysts during a conference call, on the sidelines of the quarterly results of France Altice. A message repeated for more than an hour by all the other leaders, such as Dennis Okhuijsen, the financial director of Altice International, who spoke of an “absolute priority”.
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