French billionaire Patrick Drahi buys auction house Sotheby's

Swiss-based French-Israeli multi-billionaire Patrick Drahi, the founder and boss of telecommunications group Altice, has bought a controlling stake in the art auction house Sotheby's, a 3.7-billion dollar purchase made via his US company BidFair USA.

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Sotheby's is being bought by telecoms billionaire Patrick Drahi in a deal valuing the art auction house at $3.7 billion, reports BBC News.