Charter/Verizon Unlikely Due to Cost, NY Divestitures, Raymond James Says
Between the price and the New York divestitures that would be required, a Verizon/Charter Communications deal is not likely in the cards, Raymond James analyst Frank Louthan emailed investors Friday. The asking price could be "well north" of $400 per…
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share, Raymond James said; the stock trades at about $320. "Recent conversations in DC with industry participants and regulators showed little enthusiasm for the deal" because of the divestitures and "a lack of strategic focus," he wrote. Charter more likely is interested in investing in its business, Raymond James said. The operator has been the subject of rumors of a combination with and possibly purchase by Verizon (see 1701260032).