News
U.S. telco reportedly offered more than $100 billion for the cableco.
Charter recently rejected a takeover bid from Verizon, it emerged this week.
Sources cited by the New York Post on Wednesday said that in recent months, Verizon made an offer of between $350 (€311.67) and $400 per share, valuing the cableco at well over $100 billion. However, Charter allegedly turned down the offer on grounds that it was too low, and that Charter was not ready to sell.
According to the report, John Malone, chairman of Charter parent Liberty Media, wants to give the company more time to integrate its recently-acquired rival, Time Warner Cable.
Charter is also in the process of ramping up its mobile strategy. It has a longstanding wholesale deal with Verizon, and plans to launch an MVNO service next year.
Last month, Charter established a partnership with rival cableco Comcast – which recently launched an MVNO service of its own, also on Verizon’s network – in a bid to give their respective mobile operations the best chance of success.
The two companies will focus on creating common operating platforms; technical standards development and harmonisation; device logistics; and emerging wireless technology platforms.
There were conflicting reports in late January about a Verizon-Charter tie-up. The Wall Street Journal reported that the two were holding preliminary deal talks, while CNBC reported that no such talks were taking place.
Meanwhile for Verizon, a deal with Charter would give its media business a welcome boost, helping it to keep pace with closest rival AT&T, which, after its acquisition of DirecTV and its recent agreement to acquire Time Warner, is poised to pull ahead when it comes to converged services and content.
