Charter Communications Said to Weigh Takeover of Altice USA (3)

Charter Communications Inc. is exploring a takeover of smaller cable provider Altice USA Inc., according to people with knowledge of the matter.

Altice USA’s stock soared on the news, gaining as much as 63% for the biggest jump since its spinoff of in 2018. Shares of Altice USA, which has more than $25 billion in debt, closed up 36% to $2.49 Monday in New York, giving the company a market value of about $1.14 billion.

Charter is working with financial advisers as it studies the merits of a potential deal for the US broadband and video services provider, the ...