© Reuters. Charter jumps on new report of SoftBank interest
- Despite being previously rebuffed, SoftBank (SFTBY -5.1%) is willing to re-engage Charter Communications (NASDAQ:CHTR) on a deal if it sees interest from the cableco, CNBC says.
- Charter’s jumping out of the open, up 5.9%.
- The two are already talking about a merger, the New York Post said last week. Charter had backed away from talks in July, reaffirming its mobile resale arrangement with Verizon (VZ -3.8%).
- The July deal would have seen Charter acquired at $540/share in cash and stock (Charter’s now at $355.23) and SoftBank would have contributed Sprint share to the new company at about $10/share, CNBC says.
- Liberty Media (NASDAQ:FWONA) and John Malone own about 27% of Charter and showed interest in the SoftBank offer, while Charter management didn’t, according to the report.
- SoftBank is making a flurry of deal/partnership news over the past two days after talks broke down with Deutsche Telekom (DE:DTEGn) (DTEGY -3.9%) over merging Sprint (S -11.5%) and T-Mobile (TMUS -5.4%).
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