Report: Comcast Ready to Pair With Charter on TWC Deal

Bloomberg says cable giant would take NYC, New England and North Carolina if Charter lands deal

Charter stock surged on Monday after a report that it was close to signing on Comcast as an ally in a Time Warner Cable takeover, with the Philadelphia-based MSO taking TWC systems in New York City, New England and North Carolina if Charter is able to seal a deal.

According to a report on citing unnamed sources, Comcast has an agreement in principal to buy the systems in New York, New England and North Carolina – near the cable giant’s existing clusters – from Charter, but only if the Stamford, Conn.-based cable operatior is able to convince TWC shareholders' to approve a takeover.

News of the potential pairing sent Charter’s stock soaring – it was up 4.1% ($5.46 per share) to $137.03 each in early trading. Comcast shares were up about 1.4% (70 cents each) to $53.10 and TWC shares were up slightly (45 cents or 0.3%) to $134.25 per share in afternoon trading Monday.

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