Comcast, Charter Eye On A Joint Bid For Time Warner Cable: Reports

(RTTNews) - According to media reports, cable provider Comcast Corp. (CMCSK, CMCSA), and Charter Communications Inc. (CHTR) have discussed a joint bid and divide between them the assets of Time Warner Cable Inc.(TWC). People familiar with the matter have quoted that a joint deal would solve issues Comcast and Charter will be needing to face, if they were to acquire Time Warner Cable though a separate transaction.

This move comes in after the speculated bid of Charter Communications, Inc. (CHTR), with respect to Time Warner Cable; as the Wall Street Journal quoted early Friday that Communications, held talks with lenders Bank of America Corp. (BAC), Deutsche Bank AG (DB) and Barclays Plc. (BARC.L, BCS) in an effort to raise cash to make a bid for Time Warner Cable Inc. is being backed by its largest shareholder Liberty Media group. However, Comcast is also reportedly seeking for a solo bid for the Time Warner Cable, and that approvals will not be a problem as the companies do not intersect in most of the regions. Comcast , Charter and Time Warner have declined to comment with respect to the offer.

Time Warner Cable Inc. stock closed Friday at $132.92, up $12.06 or 9.98%, on a volume of about 12.61 million shares on the NYSE. In the after hours trading, the stock further gained $0.58 or 0.44% at $133.50.