Porters and profit. France and Europe are severely lacking future digital and technology giants, but they still have a wealth of financial artists. You don’t have to be a visionary genius, you just need to smell good deals before others and boldly manage an inherently rich portfolio. The billionaire Vincent Bolloré is the most famous of these acrobats. He is always on the fringe. He has a thousand ideas and opportunism in his heart, allowing him to implement ideas suitable for the moment and perform unexpectedly. Effect.
The same goes for Patrick Drahi, the founder of Altice, the French owner of SFR. But unlike the Brittany businessman, his investment is very eclectic. As an excellent telecommunications engineer, he only likes one object: cables. Even if it appears in the media, especially the French BFM, the core of its empire still surrounds these copper wire or fiber optic coils, which are buried at a high price, and provide TV and TV to the families of millions of people. the Internet. It exists in France, Portugal, Israel, and the United States. Moreover, to the general surprise, he announced his entry into the capital of British Telecom, the former British Telecom, and the UK’s leading telephone operator on Thursday, June 10.
With an estimated capital investment of 12% of nearly 2.5 billion euros, it suddenly became the largest shareholder of the former British national company, keeping pace with Deutsche Telekom.
On the occasion of Brexit, Patrick Drahi, who is familiar with London like all financiers, chose to cross the English Channel. The time is right. British Telecom has embarked on a huge land-based fiber optic cabling plan to bring high-speed Internet to as many British homes as possible. Compared with other European countries (such as France (73%) or Portugal), the UK accounts for only 15% of the wired population, which is far behind other European countries, and the Altice subsidiary is tied to Portugal by 80%.
Boris Johnson promised to make up for this delay by providing subsidies of more than 5 billion euros, so the potential is even more promising. British Telecom is undertaking a huge and expensive equipment project and is looking for allies to support it. Patrick Drahi provided his international expertise, but the most important thing is that BT needs financial support.