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Charter Communications and Altice could reportedly face a bidding war for Time Warner Cable (TWC) as the FCC says it does not oppose all cable deals.
John Malone’s Charter, the fourth-largest US cableco, is discussing a bid with TWC, the number two player. The valuation is likely to be well above some analysts’ predictions of US$170 per share, the Wall Street Journal reported.
FCC commissioner Jessica Rosenworcel has been nominated by President Barack Obama to serve a second five-year term at the regulator.
Rosenworcel is one of three Democrat commissioners on the five-person board and was spoken of as a potential chairman before Tom Wheeler was selected by Obama in 2013.
India’s number three operator Idea Cellular has reportedly put its 11,000 towers on the block, setting a price of some Rs75.8bn (US$1.2bn).
The deal has attracted interest from independent towercos Axiata, Bharti Infratel and American Tower, according to the Economic Times.
The US’ fifth-largest cable provider Cablevision Systems could be the next acquisition target amid sector consolidation, according to analysts.
On Wednesday, Luxembourg telecoms group Altice announced its US$9.1bn agreement to acquire a 70% stake in number seven operator Suddenlink, prompting analysts to speculate that a Cablevision deal could soon be in store.
French economy minister Emmanuel Macron has said it is not the right time for four-to-three consolidation.
Speaking to Les Echos, he described the industry as having reached a “point of equilibrium”. Companies should focus on investment rather than M&A, which can reduce the amount of equipment, number of networks and jobs, he said.
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