Altice USA experienced a notable 36% surge in its shares on Monday, spurred by reports indicating that Charter Communications is contemplating the acquisition of the broadband company. Charter is reportedly in talks with financial advisors to assess the viability of such an acquisition, according to sources familiar with the matter cited by Bloomberg. Despite the spike in Altice USA’s shares, it remains uncertain whether Charter has initiated formal discussions about the potential transaction, and as of now, Altice USA has not been approached by Charter for talks, as reported by CNBC.

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Amid the speculation surrounding the possible acquisition, the larger company, Charter, saw a 2% drop in its shares on Monday. Both Charter and Altice USA have faced stock declines of about 25% and over 40%, respectively, earlier this year, reflecting broader challenges in the industry as major communication companies struggle to retain broadband and cable subscribers. The reported deal would bring substantial consolidation at a time when companies in the sector are grappling with subscriber retention issues. As of now, neither Charter nor Altice USA has officially commented on the reported acquisition discussions.

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By Alex

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