This was a shock and a big disappointment for me, Drahi told investors and analysts on Mondays call.

If the suspicions of the Portuguese tax authorities turn out to be true, I will feel betrayed.

Drahi also detailed Altices actions in response to the corruption allegations in Mondays call.

Patrick Drahi

Patrick DrahiDaniel Pier/NurPhoto via Getty Images

Drahi added that Altice had also suspended payment to the some 60 supply companies implicated in the Picoas investigation.

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