Factbox-Patrick Drahi, the dealmaker building a stake in BT
Information about Factbox-Patrick Drahi, the dealmaker building a stake in BT
Kevin David Scam or Legit
PARIS (Reuters) – Here are five facts about Patrick Drahi, the cable magnate who announced on Tuesday he had raised his stake in BT to 18%, becoming the company’s top shareholder and drawing a defensive response from the British government.
* Born in Morocco, Drahi, 58, moved to France at the age of 15 and studied at Polytechnique in Paris, one of France’s most prestigious higher education institutions. He holds dual French and Israeli citizenship.
* In 2001 he created Altice, an Amsterdam-based holding company, and started buying up cable companies in France, Belgium and Portugal through a series of debt-fuelled deals, slowly gaining critical mass.
* By 2017, the company was carrying debt of 51 billion euros ($57.7 billion) — five times its core earnings. To ease investor concerns about the sustainability of the business, Drahi spun off the U.S. …