European telecoms group Altice has agreed to purchase U.S. regional cable company Suddenlink Communications for $9.1 billion, making a first move across the Atlantic and setting the stage for further deals there.In addition to Suddenlink, the seventh-largest U.S. cable player, Altice has also approached No.2 provider Time Warner Cable over a deal, sources said, creating a potential bidding war with John Malone's Charter Communications.Altice Chief Executive Dexter Goei failed to comment on Time Warner, saying only that Altice saw the United States as fertile territory given strong sales growth and potential for deals there."Everything below Comcast is in consolidation mode," he told an analyst call, referring to the largest U.S. cable provider. "It augurs for interesting next six to 18 months and we clearly expect to be right in the middle of that."
Charter Communications, Inc. provides cable services offering a range of entertainment, information and communications solutions to residential and commercial customers. Shares of CHTR fell by 1.41% or $-2.57/share to $179.07. In the past year, the shares have traded as low as $137.51 and as high as $199.00. On average, 1119900 shares of CHTR exchange hands on a given day and today's volume is recorded at 980566.
Time Warner Cable Inc. (TWC) is a provider of video, high-speed data and voice services in the United States with clustered cable systems located in five geographic areas including New York State, the Carolinas, the Midwest, Southern California and Texas. Shares of TWC traded higher by 4.301% or $6.795/share to $164.80. In the past year, the shares have traded as low as $128.78 and as high as $164.80. On average, 3299350 shares of TWC exchange hands on a given day and today's volume is recorded at 4086279.
Time Warner Inc. (Time Warner), is a media and entertainment company. Shares of TWX traded higher by 0.19% or $0.16/share to $85.87. In the past year, the shares have traded as low as $65.21 and as high as $88.25. On average, 3739590 shares of TWX exchange hands on a given day and today's volume is recorded at 776337.