116 Charter Communications is reportedly considering a takeover of Altice USA, according to sources familiar with the matter cited by Bloomberg News on Monday. Altice USA’s shares surged by 56% in afternoon trading, while Charter’s shares fell by 2.8%. The report did not specify whether Charter has formally approached Altice USA about the potential takeover, and there is uncertainty about whether Charter will ultimately pursue such a transaction. Both Charter and Altice USA declined to comment on the report when contacted by Reuters. Altice USA currently has a market capitalization of approximately $1 billion and carries a significant debt burden of $25 billion. If Charter were to proceed with acquiring Altice USA without a debt restructuring, it would likely need to pay the full value of that debt. The news of a possible takeover comes after Charter recently experienced a surprise decline in broadband subscribers, attributed to competitive pressures in a saturated market. The company faces tough competition not only in broadband but also in wireless mobile services, along with challenges stemming from the decline of traditional television. You Might Be Interested In Ericsson Takes $1.1 Billion Hit on Weak Vonage Outlook Expedia Group’s Hari Nair Joins Brand USA Board to Promote U.S. Tourism Kohl’s Renews Commitment to Healthier Communities with $5 Million Investment Nvidia Earnings Could Drive $200 Billion Swing in Shares, Options Indicate US Fintech Coast Raises $92 Million to Enhance Product Development RGA Strikes Landmark Deal with Japan Post Insurance for 700 Billion JPY Longevity Reinsurance
