Patrick Drahi, the French-Israeli telecommunications billionaire, has reportedly relocated from Switzerland to Tel Aviv for personal and family reasons, amid ongoing tax proceedings in Geneva. His move comes as his Altice Group faces significant debt challenges, with assets estimated at 5.5 billion francs. Drahi, who has held various international passports, previously listed Swiss addresses and recently cited a Caribbean address, complicating the tax authorities' investigation into his residency.
Altice International has revised its earnings forecast downward, anticipating EBITDA of approximately €1.6 billion ($1.7 billion) for the 2024 financial year. This marks a decline from the previous estimate of €1.86 billion, reflecting ongoing challenges within the telecommunications sector.
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