Charter In Talks With Time Warner Cable Over Deal Above $170/Share

Charter Communications, Inc. (NASDAQ: CHTR) may bid more than $170 per share for Time Warner Cable Inc (NYSE: TWC), according to a Wall Street Journal report.

People close to the matter claimed that Charter was in talks to make the bid following the failed buyout by Comcast Corporation (NASDAQ: CMCSA) after U.S. regulators raised concerns over conflicts of internet.

Charter had bid approximately $132.50 per share, or $37.3 billion, for TWC in 2014 only to be outbid by Comcast’s all-stock deal valued at $158.82 per share, according to Reuters.

Charter may not be alone, however, as a suitor for Time Warner Cable. France-based Altice SA (AMS: ATC) approached Time Warner Cable also seeking a deal and a meeting took place on Wednesday between the companies, sources told Reuters.

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As for regulatory concerns, “the Wall Street Journal said U.S. Federal Communications Commission Chairman Tom Wheeler reached out to the chief executives of Time Warner Cable and Charter Communications to convey that the agency is not opposed to any and all cable deals,” Reuters noted.

Cable executives had expressed concern over the uncertain regulatory framework for future cable deals. Sources claimed that Wheeler told executives that deals would be assessed on their own merits and that some had significantly “over-read” the FCC’s position on the Comcast-Time Warner Cable deal.

Following Friday’s open, Charter Communications, Inc. traded at $181.00, up 1.32 percent, while Time Warner Cable Inc traded at $169.99, up 2.70 percent.