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Malone hooks up to Time Warner Cable

Published 26/05/2015 | 02:30

Charter Communications, which is backed by Irish-American billionaire John Malone, is in the market to take over Time Warner Cable. Photo: Bloomberg
Charter Communications, which is backed by Irish-American billionaire John Malone, is in the market to take over Time Warner Cable. Photo: Bloomberg
Time Warner Cable Inc. signage is displayed at the company's store in New York, U.S., on Wednesday, Jan. 28, 2015. Time Warner Cable Inc. is scheduled to release earnings figures on Jan. 29. Photographer: Michael Nagle/Bloomberg

Charter Communications, the US company backed by Irish-American billionaire John Malone, is competing with France's Altice to take over Time Warner Cable.

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Charter is said to be leading the discussions on the deal and is ready to pay a large premium for the acquisition, according to people familiar with the matter.

Time Warner Cable, which has a market value of about $48bn (€43.7bn), may fetch more than $54bn in a sale, one of the people said.

Malone's Liberty Global Group is Europe's biggest cable operator, including through its UPC unit in Ireland, and is said to be seperately eying a potential deal with telecoms giant Vodafone.

Irish Independent

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