WSJ: Verizon mulls combination with Charter

Thursday, 26. January 2017 15:40

Verizon Communications Inc. is considering a combination with Charter Communications Inc. as its CEO Lowell McAdam made a preliminary approach to officials close to the cable telecommunications company, the Wall Street Journal reported on Thursday. 

A possible transaction would combine Verizon's more than 114 million wireless subscribers and part of its landline business with Charter's cable network, as the two giants search for growth in the rapidly consolidating media and telecom markets, sources revealed. At the moment, Verizon is working with its consultants to analyze a potential deal, but it is still uncertain whether it will eventually materialize, the report said.

Verizon's shares lost 2.3% to trade at $48.61 at 3:46 pm CET, while those of Charter surged 6.5% to $330.88 at the same time.

 

Image: EPA / Andrew Gombert

Related Links: Verizon Communications Inc.Charter Communications Inc.
Author:
Breaking the News / IB