Altice Audits of Corruption Claims Find ‘No Material Impact’

Internal corruption investigations by billionaire Patrick Drahi’s Altice Group found violations would have “no material impact” on its subsidiaries’ financial statements, the telecommunications firm said in a statement on Thursday.

Altice International and Altice France commissioned the investigations by law firms Ropes & Gray and DLA Piper France after Portuguese prosecutors announced an investigation into allegations of corruption, tax fraud and money laundering in July.

The criminal probe focused on executives and suppliers of Altice Portugal, a subsidiary of Altice International, but its fallout spread to other parts of the group, leading to the termination of ...