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Altice rallies as Charter Communications reportedly mulling bid: Bloomberg
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Investing.com — Altice rallied Monday as Charter Communications is reportedly weighing up an offer for the broadband and video service company, Bloomberg report Monday, citing unnamed sources.
Altice USA Inc (NYSE:ATUS) jumped more than 50% in recent trading following the report.
Charter Communications (NASDAQ:CHTR) has enlisted the services of financial advisors to evaluate a potential bid for smaller rival Alice, the report said.
The news of a potential tie-up between the two companies come amid a difficult backdrop owing to rising competition from wireless broadband providers.
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