Altice Reportedly Considers Seeking Equity Funds For Charter Bid

(RTTNews) - Patrick Drahi's Altice NV is considering asking Canada Pension Plan Investment Board and BC Partners to help fund a potential bid to buy cable broadcaster Charter Communications Inc., Bloomberg reported citing people familiar with the matter.

Considerations are at an early stage and it isn't clear how much of an equity commitment Drahi may seek from the funds, the people said, asking not to be identified as the details aren't public. Altice hasn't yet formally approached BC Partners and Canada Pension about joining a bid and may decide not to proceed with an offer, the report said.

Altice and its U.S. subsidiary, Altice USA, are among a group of possible suitors for Charter that includes Japan's SoftBank Group Corp., the report said August 9.