Deals
M&A Flurry Leaves Few Cheap Targets for Cable Tycoons
- Charter's Zinterhofer, Altice's Goei say valuations are high
- China stock slump, rising interest rates could trigger deals
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Telecommunications and media assets have become too expensive and cheaper targets are harder to come by after a flurry of takeovers in Europe and the U.S., according to two of the world’s most acquisitive cable companies.
Leaders from Charter Communications Inc. and Altice NV said Friday it may be time to focus on digesting the targets acquired so far rather than embarking on new deals. Still, potential increases in interest rates and the market turmoil caused by China may lead to company valuations dropping to more attractive levels, they said in a conference in Amsterdam.