Altice suspends managers in wake of Pereira detention

Altice International says it has suspended a number of un-named managers, workers and legal representatives in Portugal and other countries as it seeks to respond to a police probe that last week saw its co-founder detained on suspicion of corruption, tax fraud and money laundering.

The company’s co-CEO Alexandre Fonseca, who also serves as chairman of the group’s Portuguese and US units, also suspended himself from all of his roles this week after co-founder Armando Pereira and other individuals were detained over the weekend.

Altice has also launched its own internal investigation into procurement practices within its Portuguese subsidiary and the wider group.

Pereira was detained after his home and Altice’s Lisbon offices were raided by police last week as part of the Portuguese Departamento Central de Investigação e Ação Penal (DCIAP)’s Operation Picoas investigation.

Periera and two other individuals were detained in connection with alleged corrupt procurement practices that were harmful to Altice Group’s own companies and competitors, according to the DCIAP.

Álvaro Gil Loureiro, a director of companies linked to Pereira’s business partner Hernâni Vaz Antunes, and Antunes’ daughter Jéssica Antunes were reported to have been detained, with Antunes handing himself in for questioning subsequently.

According to SIC Noticias, the Operation Picoas investigation carried out by the Departamento Central de Investigação e Ação Penal (DCIAP)’s is looking into the purchase and sale of buildings owned by Altice in transactions involving Hernâni Antunes.