Investing.com -- Altice rallied Monday as Charter Communications is reportedly weighing up an offer for the broadband and video service company, Bloomberg report Monday, citing unnamed sources.
Altice USA Inc (NYSE:ATUS) jumped more than 40% in recent trading following the report.
Charter Communications (NASDAQ:CHTR) has enlisted the services of financial advisors to evaluate a potential bid for smaller rival Alice, the report said.
Charter Communications declined to comment, while Altice didn't immediately respond to request for comment.
The news of a potential tie-up between the two companies come amid a difficult backdrop owing to rising competition from wireless broadband providers.