Apollo considers purchase of Charter

20 Mar 2009

New York based private equity firm Apollo Management is reportedly in talks with US broadband operator Charter Communications about converting its debt holdings into an equity stake in the company. Charter announced in February 2009 it plans to file for bankruptcy on or before 1 April. The financial reorganisation of Charter through the bankruptcy courts will include an equity rights offering and could see Apollo emerge as the operator’s majority equity shareholder, although majority voting rights would be retained by Paul Allen, chairman of the board of directors.

United States, Charter Communications (Spectrum, incl. Spectrum Mobile)