T. Rowe Price Group sent a letter this week to Time Warner Cable urging the cable company to have talks with smaller cable provider Charter about a possible deal, according to people familiar with the matter.As of Sept. 30, T. Rowe owned 5.16 percent of Charter shares and 2.3 percent of Time Warner Cable shares. T. Rowe is Time Warner Cable's eighth-largest shareholder and Charter's third-largest shareholder, the latest publicly available filings show, according to Thomson One.T. Rowe is the first shareholder to send a letter to Time Warner Cable management since Charter made its approach with a $37.3 billion offer, one of the people said.Members of Time Warner Cable's board have read the letter, but their reaction was not immediately clear, sources said.
Time Warner Cable Inc. (TWC) is a provider of video, high-speed data and voice services in the United States with systems located in five geographic areas: New York State, the Carolinas, Ohio, Southern California and Texas. Shares of TWC fell by 0.46% or $-0.625/share to $134.26. In the past year, the shares have traded as low as $84.57 and as high as $139.85. On average, 2760400 shares of TWC exchange hands on a given day and today's volume is recorded at 1705652.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX fell by 1.43% or $-0.94/share to $64.82. In the past year, the shares have traded as low as $49.50 and as high as $70.77. On average, 4466590 shares of TWX exchange hands on a given day and today's volume is recorded at 3480069.
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