Keyword: Patrick Drahi

How Libération's multi-billionaire owner bills the ailing daily for 'services'


Much of the French media is owned by billionaire industrialists and businessmen with financial interests that sit uncomfortably with the notion of freedom and pluralism of the press, while some argue that without such wealthy proprietors many titles would fold. One case in point is France’s venerable leftwing daily Libération, co-founded in 1973 by French philosopher Jean-Paul Sartre and now owned by multi-billionaire Patrick Drahi who made his fortune in telecommunications. Laurent Mauduit has been studying the struggling newspaper’s financial accounts, and details here how Drahi last year billed it for 1.8 million euros for “services” by his group, which notably included “restructuring”, further aggravating its vast debts offset in part by public subsidies.

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.

French telecoms group SFR pays the price of reverse-charges takeover

Patrick Drahi. © Reuters Patrick Drahi. © Reuters

French telecoms operator SFR, which was acquired by the holding company of Swiss-based businessman Patrick Drahi in 2014, is losing subscribers to its mobile- and internet-based services by the hundreds of thousands. The haemorrhage threatens the future of the group, already struggling with heavy debts amid one of the toughest telecoms markets in Europe. Martine Orange analyses the cost-cutting, service-reducing strategy employed by Drahi, a champion of the technique of leveraged buyouts.

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

 © Reuters © Reuters

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.

Bouygues shuns Altice's bid for telecom arm

Bouygues Telecom board rejects €10 billion offer from rival saying it is well-placed to benefit from new period of growth in telecoms market.

French premier warns on Altice bid to buy Bouygues Telecom

Manuel Valls says plan by owners of Numericable-SFR to buy rivals Bouygues for €10 billion must preserve jobs and network investments.

France's Numericable SFR makes fresh bid for Bouygues Telecom

Move by Patrick Drahi, owner of Numericable-SFR, to buy rival Bouygues Telecom for 10 billion euros is set to provoke controversy.

The French billionaire who wants to rule U.S. cable

Patrick Drahi's Altice is buying 70 percent of Suddenlink Communications and is said to have approached Time Warner Cable.

French telecoms wars not over yet

Head of French public-sector investment body says he would be prepared to back Bouygues in tussle for control of mobile phone firm SFR.

Vivendi picks Numericable for exclusive talks on SFR

Move is blow to telecoms firm Bouygues who had also bid for its mobile phone rival, an option also backed by industry minister Arnaud Montebourg.