59 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 Developing an AI-Powered Culture to Embrace Artificial Intelligence Otis Secures Modernization Project and Service Contract Extension for Burj Khalifa HSBC Reports Surge in Pre-Tax Profits Driven by High Interest Rates BP Aims $1.5 Billion Investment in Egypt for Gas Projects and Drilling Activities JACCA Demands Liquidation Of Jet Airways’ Assets PPG Board of Directors Approves $2.5 Billion Share Repurchase Program
