A top executive within Altice Group has resigned amidst a corruption probe involving the telecom’s Portugal business.
The departure comes after Altice co-Chief Executive Officer Alexandre Fonseca took a leave of absence last July, shortly after investigators in Portugal said they were looking into allegations of malfeasance involving the company.
Fonseca, who also served as the chairman of Altice’s U.S.-based operations, previously worked as the CEO of Altice Portugal. He was not named by authorities there as a suspect in the alleged corruption matter.
“Altice Group and I have reached an agreement that puts an end to a relationship of more than a decade, in which I put all my commitment and dedication and to whom I provided deep collaboration,” Fonseca wrote in a statement that was posted to his personal X (formerly Twitter) account, and which later appeared on his LinedIn page.
Police in Portugal started investigating allegations of tax fraud, corruption, money laundering and forgery involving some of Altice’s business there. Altice co-founder Armando Pereira was placed under house arrest for several months as the investigation progressed.
Altice is in the process of selling its Portuguese business, which has drawn a number of offers, including one from the Saudi Telecom Company (STC) and a separate bid from Xavier Niel of Paris-based Iliad Group.