Altice Portugal opens investigation into real estate sales.

The company Altice announced on Friday that it is conducting an "internal investigation" into the processes of buying and selling real estate at Altice Portugal, as well as throughout the entire Altice group.

On Thursday, Altice Portugal confirmed that it was the subject of searches "as part of an investigation targeting individuals and organizations outside the Altice group," which resulted in the arrest of the company's former president, Armando Pereira.

The Altice Group also intends to strengthen the "approval process" regarding any purchase orders and assured that it will continue to make all decisions in the best interests of its subsidiaries, shareholders, suppliers, and customers.

In addition to Armando Pereira, co-founder of Altice with Franco-Israeli Patrick Drahi, the Attorney General's Office confirmed the arrest of two more individuals, one of whom is the daughter of Armando Pereira's business partner, Hernani Vaz Antunes.

During the investigation conducted by the Central Department for Investigation and Criminal Prosecution (DCIAP), with the assistance of the Tax and Customs Service (AT), "facts that may constitute crimes of corruption in the private sector, serious tax fraud, forgery, and money laundering" are being examined.