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The Picoas process leads to the sale of assets in Altice

Published on

September 15, 2023 23:34

Pressure continues on the group founded by Patrick Drahi and Armando Pereira

Rui Duarte Silva

The Public Ministry’s investigation is accelerating sales of Altice and putting pressure on suppliers to look for alternatives

September 15, 2023 23:34

Annabella Campos

Patrick Drahi, President of Altice, continues to test the hypothesis of the sale of assets in the wake of Operation Picoas, the investigation conducted by the Public Ministry and the Tax Authority, in which Armando Pereira and Hernani Vaz Antunes were identified as accomplices in the creation of a fraudulent network of suppliers from the group that owns MEO. But there are also, in the corporate world around the telecom group founded by the French-Israeli businessman, companies already looking for new markets and new shareholders.

Expresso knows that among Altice’s suppliers, specifically those linked to the technology sector, there are those that are actively looking for new investors, a path that began shortly after Altice Portugal announced (on July 14) that it would suspend the hiring of new services for companies that were under Investigation, including cutting off bill payments. The pressure on the Treasury has set off alarm bells and put the sustainability of the business and the payment of wages to workers at risk. Especially since some suppliers considered Altice as their largest or one of their largest customers.

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