2023-07-17 13:28:00
Altice Portugal
On Friday, Altice announced an internal investigation into procurement and real estate sales in Portugal.
(Photo: Reuters)
Lisbon Because of an alleged corruption and money laundering affair at Altice’s Portugal subsidiary, co-boss Alexandre Fonseca has suspended his posts at the cable provider until further notice. This includes all managerial and non-managerial functions in the group as well as the chairmanship of several subsidiaries, the company announced on Monday.
According to his lawyer, Altice co-founder Armando Pereira was arrested last week. According to the authorities, the group’s purchasing was “manipulated with practices that harmed its own companies and its competitors”. Pereira remained in custody as of Monday.
According to Portuguese media reports, the authorities are also investigating the sale of a building complex worth several hundred million euros. Some taxes were not paid. This happened under the aegis of Fonseca, who managed Altice Portugal from November 2017 to April 2022. However, the manager is not listed as a suspect.
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