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Behind the rise of telecom and media tycoon Patrick Drahi, emperor of easy money

In just two years, Franco-Israeli businessman Patrick Drahi has turned a pedestrian French cable operation into a global telecoms empire, spending more than 40 billion euros on acquisitions, including France’s second-largest mobile operator, SFR. But behind the breathtaking sequence of deals, he has ratcheted up debt, riding on the wave of cheap money that followed the 2008 financial crisis, and now even ratings agency Moody's appears concerned. Martine Orange reports.

23 August 2015 à 10h12

Strangely for a businessman used to making dramatic announcements, Patrick Drahi's latest transaction was a particularly discreet one, in contrast to the fanfare with which his purchase of NextRadioTV, owner of broadcasters BFM and RMC, was announced on July 27th.

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