Yesterday The Wall Street Journal reported that Verizon had approached people close to Charter Communications about a merger. Today CNBC is reporting that “reports of merger talks between Charter and Verizon have been greatly exaggerated.”
The CNBC story adds, “On Friday, numerous sources familiar with the matter told CNBC that no significant talks between the parties are taking place, and Verizon instead is looking at its 5G strategy.”
Also, according to Reuters, “Charter Communications shares rose as much as 10% on Thursday after The Wall Street Journal reported a preliminary approach by Verizon Communications about a tie-up, but Reuters sources said no proposal was made.
“Speculation over a combination of the two companies has been building steadily since last month, when Verizon Chief Executive Officer Lowell McAdam told Wall Street analysts that such a deal would make “industrial sense.”