Nov 21 (Reuters) – Charter Communications Inc is
nearing an agreement with banks to raise funds for a bid for
Time Warner Cable Inc, the Wall Street Journal reported,
citing people familiar with the situation.
Charter has held talks with banks including Bank of America
Bank of America Corp, Barclays PLC and Deutsche
Bank AG regarding a multi-billion-dollar debt package
that would underpin an offer for Time Warner Cable, the
newspaper reported. ()
Charter could also receive cash from sovereign wealth funds
and wealthy individuals for the bid, the Journal said.
Charter Communications and Time Warner were not immediately
available for comment. Representatives for Bank of America,
Deutsche Bank and Barclays could not be immediately reached for
comment.
It isn’t immediately clear which banks might participate in
the potential debt package or how much Charter would get from
lenders, the Journal said.
There is also no guarantee that a Charter bid for Time
Warner Cable will ultimately materialize, the newspaper
reported.
Earlier this month Reuters reported that Charter was
weighing a bid for Time Warner Cable before the end of the year,
hoping to persuade the larger cable operator to sell after
rejecting an earlier overture.
