Portugal: Co-CEO Alexandre Fonseca leaves Altice amidst corruption probe

Jan 05, 2024 | Posted by Abdul-Rahman Oladimeji

Altice co-CEO Alexandre Fonseca has left the group following an investigation into alleged corruption at the telco, despite not being a suspect in the investigation. Fonseca has also temporarily stepped down to “fully protect and safeguard” Altice as the investigation was carried out in July.

Fonseca wrote on X, "I would like to inform you that the 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 led Altice Portugal from November 2017 to April 2022 before becoming co-CEO of the company along with Armando Pereira. Though Fonseca was not considered a suspect in this probe, Pereira, on the other hand, was arrested and placed under a three-month house arrest, which lasted till October. His arrest was in relation to a three-year investigation into corruption, tax fraud, forgery, and money laundering at the telecoms company’s Portuguese subsidiary. However, he has denied any wrongdoing.