Patrick Drahi faces renewed legal pressure as creditors sue Altice International over alleged asset transfers worth billions. Two weeks after US lenders sued Drahi personally for moving valuable assets beyond bondholder reach, creditors to Altice International, including Elliott Management and Sona Asset Management, have filed similar allegations. They claim Drahi illegally shifted assets worth billions outside creditor reach, now owed €8 billion.
The lawsuits form part of a series of global battles surrounding Drahi's telecoms empire. Meanwhile, LSEG is weighing a $3.5bn acquisition of Octus, a credit markets data provider, to expand its private markets footprint despite a listings drought. The owner of the London Stock Exchange, known for its £22bn Refinitiv acquisition, seeks to buy the data provider to enhance its financial data and analytics offerings.
In other financial news, the US Treasury fined Bank of America over $1bn for money laundering and sanctions violations. English football's new regulator faced a resignation threat over Manchester City charges, while Schillings and Clare Locke announced a private investigations joint venture.
Source: Financial Times Companies · Summarized by HeadlinesBriefing