Charter exploring potential takeover of Altice USA, Bloomberg says

Charter Communications (CHTR) is exploring a takeover of smaller rival Altice USA (ATUS), people with knowledge of the matter told Bloomberg’s Michelle Davis, Ryan Gould and Gillian Tan. Charter is working with financial advisers as it studies the merits of a potential deal for the rival broadband and video services provider, though it is unclear whether a formal approach has been made and Charter could decide not to pursue a transaction, the sources said. Shares of Altice USA are up over 50% in afternoon trading.