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Liberty Media to buy 25% in Charter - report
2013-03-19 09:22:00| Telecompaper Headlines
(Telecompaper) Liberty Media is close to a deal to acquire 25 percent of Charter Communications from its private-equity investors, a person familiar with the situation told Bloomberg. The firms include Apollo Global Management and Oaktree Capital Management, Charter's largest shareholders. The stake was worth USD 2.48 billion at the share's closing price on 18 March. Charter, the fourth-largest cable operator in the US, declined to comment. Liberty Media already holds an undisclosed stake in Time Warner Cable, the second-biggest US cable company. Charter said earlier this month that Apollo would reduce its stake by 6.2 million shares and Oaktree would sell 3.1 million in an underwritten offering.
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Category:Telecommunications