Altice Eyes NY Based Char­ter Com­mu­ni­ca­tions for Ac­qui­si­tion

The Jewish Voice - - NEW YORK - By: Asher Sch­lesinger

Altice, a multi-na­tional tele­coms com­pany based in the Nether­lands, is the lat­est com­pany hop­ing to ac­quire Char­ter Com­mu­ni­ca­tions, the New York-based tele­com com­pany which pur­chased Time Warner Ca­ble for $60 bil­lion last year.

Ac­cord­ing to a NY Post re­port this month, Sprint owner SoftBank is also in­ter­ested in the deal, along with Ver­i­zon, though the lat­ter has not yet con­firmed it is mov­ing for­ward. Altice has also not made any moves as of yet, the Post said it is in the pre­lim­i­nary stages of the Char­ter Com­mu­ni­ca­tions ac­qui­si­tion.

The Char­ter deal could reach $200 bil­lion, as the com­pany is $60 bil­lion and is of­fer­ing a pur­chase price that could sur­pass $500 a share.

Ac­cord­ing to the Post, Lib­erty Me­dia chair­man John Malone be­lieves Char­ter would be bet­ter off with­out the ac­qui­si­tion, though some say a three-way bid­ding war would be ben­e­fi­cial to Malone, as Lib­erty Me­dia is Char­ter’s big­gest share­holder.

Tele­com an­a­lyst Craig Mof­fett told the Post that the gi­ants com­pet­ing for con­trol of Char­ter can­not of­fer a bid cred­i­ble enough to be more at­trac­tive than his go-it-alone ap­proach.

“None of the ru­mored ac­quir­ers – Ver­i­zon, SoftBank, or Altice – has the bal­ance sheet to mount a cred­i­ble bid that’s more at­trac­tive to Malone than his own go-it-alone strat­egy,” Mof­fett said, ac­cord­ing to the news out­let.

At the same time, Mof­fett said he is sure it “is very flat­ter­ing to Char­ter to be the ap­ple of so many com­pa­nies’ eyes.”

Ac­cord­ing to Bloomberg, Char­ter’s shares rose by at least 4.9 per­cent af­ter CNBC re­ported Altice’s in­ter­est in the ac­qui­si­tion.

“We of course will lis­ten to all and any of­fers that come in and judge them on their merit and ap­peal,” Lib­erty Broad­band chair­man Greg Maf­fei said this month, ac­cord­ing to Bloomberg. “Any deal that would be ap­peal­ing for us and other Char­ter share­hold­ers would have to have real value and show real ca­pa­bil­i­ties that are be­yond what we think is a very well-po­si­tioned com­pany.”

Altice, a multi-na­tional tele­coms com­pany based in the Nether­lands, is the lat­est com­pany hop­ing to ac­quire Char­ter Com­mu­ni­ca­tions, the New York-based tele­com com­pany which pur­chased Time Warner Ca­ble for $60 bil­lion last year.

Lib­erty Me­dia chair­man John Malone be­lieves Char­ter would be bet­ter off with­out the ac­qui­si­tion, though some say a three­way bid­ding war would be ben­e­fi­cial to Malone, as Lib­erty Me­dia is Char­ter’s big­gest share­holder.

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