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Altice rallies as Charter Communications reportedly mulling bid: Bloomberg

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.  

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.