Liberty Broadband rises on counter-offer to merge with Charter Communications

Liberty Broadband

24/09/2024 15:17

(Updates)
    ** Shares of cable TV pioneer John Malone's Liberty
Broadband  LBRDA.O  rise 27.5% to $76.50 - their highest level
in more than seven months
    ** LBRDA proposes all-stock merger with cable and broadband
company Charter Communications  CHTR.O 
    ** Liberty holds a 26% interest in CHTR, while it has 16.5%
ownership in information and analytics firm Comscore, according
to its website 
    ** LBRDA also operates Alaska-based telecom company GCI,
which provides data, wireless and other services to residential
customers and businesses, among others
    ** Proposed transaction includes closing date of June 30,
2027 or earlier, if the parties mutually agree, LBRDA says
    ** "The deal may not have a material impact on Charter stock
beyond the refinancing or repayment choices made with respect to
Liberty’s debt," brokerage Barclays says
    ** Up to last close, LBRDA stock down ~26% YTD

 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))