Deals
Charter Communications Weighs Takeover of Altice USA
- Altice USA shares soar up to 63% in biggest gain since spinoff
- Both firms have suffered with surge in wireless competition
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Charter Communications Inc. is exploring a takeover of smaller cable provider Altice USA Inc., according to people with knowledge of the matter.
Altice USA’s stock soared on the news, gaining as much as 63% for the biggest jump since its spinoff of in 2018. Shares of Altice USA, which has more than $25 billion in debt, closed up 36% to $2.49 Monday in New York, giving the company a market value of about $1.14 billion.