Altice USA shares spike 36% on report Charter is considering acquisition

Altice USA shares experienced a significant increase of 36% amid reports that Charter Communications is considering an acquisition. Charter is said to be exploring the possibility of purchasing Altice USA and has sought the advice of financial advisors. However, Altice USA has not been officially approached for discussions regarding a potential transaction. The potential deal holds significance as the broadband and cable industry faces challenges in retaining subscribers. Altice USA shares had previously declined by over 40% this year, while Charter’s stock fell by approximately 25%.