Altice rallies as Charter Communications reportedly mulling bid: Bloomberg

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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