Charter Communications exploring takeover of Altice USA: Report

Charter Communications is weighing a takeover of broadband service provider Altice USA , Bloomberg News reported on Monday, according to people familiar with the matter.

Shares of Altice USA were up 56% in afternoon trade, while those of Charter fell 2.8%.

It was unclear whether a formal approach has been made, the report said, adding that Charter could decide not to pursue a transaction.