(MENAFN) Charter Communications is nearing a USD55.1 billion deal to take over fellow American cable giant Time Warner Cable, which also has been courted by France's Altice, AFP reported.
As part of the deal, Charter would pay about USD195 a share for Time Warner Cable, USD100 million in cash and the rest in shares, The Washington Post reported, citing unidentified people familiar with the matter.
Seeking to arrange a sale after a deal with Comcast fell through in April, Time Warner Cable also had talks with Altice, which recently bouht 70 percent of Suddenlink Communications for USD9 billion.
Charter Communications, the fourth largest US cable provider, would boost its profile dramatically if it acquires Time Warner Cable, which is number two in the US market.
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