(Bloomberg) -- Internal corruption investigations by billionaire Patrick Drahi’s Altice Group found violations would have “no material impact” on its subsidiaries’ financial statements, the telecommunications firm said in a statement on Thursday.

Altice International and Altice France commissioned the investigations by law firms Ropes & Gray and DLA Piper France after Portuguese prosecutors announced an investigation into allegations of corruption, tax fraud and money laundering in July. 

The criminal probe focused on executives and suppliers of Altice Portugal, a subsidiary of Altice International, but its fallout spread to other parts of the group, leading to the termination of more than a dozen employees.

The findings come as Drahi attempts to sell off some of Altice group’s assets in an effort to reduce its $60 billion debt pile. 

The law firms worked with forensic experts on a “root cause analysis of the alleged conduct,” Altice said. 

Altice has completed the transition away from suppliers potentially connected to the allegations and will take further steps to “enhance and strengthen several internal control processes, policies and procedures to effectively prevent, detect and mitigate the risk of any future potential individual misconduct,” the company added.

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