Albert Frère

In 2006, a public entity linked to Caisse des dépôts purchased Quick from the group controlled by Albert Frère for approximately €750–800 million. Complainants and politicians alleged that the chain had been overvalued and suspected an exchange of favours with the French authorities at a time when Frère's support was decisive for the GDF–Suez merger. Belgian authorities opened a judicial investigation in Charleroi, notably into suspicions of false accounts. In 2014, the Prosecutor General's Office moved towards dismissal of the criminal branch of the Charleroi case, while a separate tax matter was to be referred to the tax authorities.

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Directly implicated

As CLT's largest shareholder, with CLT being RTL's parent company, Albert Frère clashed with Havas in the early 1990s over control of advertising sales and the balance of power within Audiofina/CLT. The confrontation took place amid European broadcasting deregulation, conflicts of interest between media groups and concerns over major shareholders' influence. Around 2000–2001, shareholders' reassertion of control over RTL and pressure for profitability also fuelled criticism over editorial independence and the financial logic applied to the broadcaster.

State of the evidence

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Directly implicated

During Carlo De Benedetti's attempted takeover of Société Générale de Belgique, a major financial and political issue for the Belgian economy, Frère and GBL acted as pivotal shareholders before partially withdrawing from the contest. Le Monde reported that he had sold shares at the peak for a substantial capital gain and quoted a market operator saying that 'only Albert Frère made money out of this affair'. Subsequent analyses reinforced his image as a financier profiting from battles for control rather than defending national industrial ownership.

State of the evidence

Documented

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Directly implicated

During the Walloon steel crisis, Albert Frère controlled a substantial proportion of steel production and, above all, its marketing. European officials and journalists criticised a system in which his commercial structure earned commissions on sales volumes while production losses were largely borne by public authorities. This arrangement contributed to his reputation as a 'predator' and to the phrase used by critics: 'the losses go to the state, the gains go to me'.

State of the evidence

Documented

Attribution

Directly implicated