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Morgan Stanley Infrastructure Companions is holding talks to purchase out WideOpenWest (NYSE:), the sixth largest cable operator in america.
The talks are nonetheless ongoing and there aren’t any ensures that an settlement shall be reached, based on Bloomberg.
Shares of WideOpenWest surged roughly 37% since Bloomberg first reported the information final month, and the corporate’s market capitalization stood at $1.6 billion as of Friday’s shut.
Crestview Companions, a New York-based non-public fairness agency, presently holds the biggest stake within the cable operator at 36%. Crestview first backed WideOpenWest in 2015, when it bought a stake from Avista Capital Companions and different buyers.
Based in 1996, WideOpenWest’s community passes greater than 3.2 million houses within the U.S., offering a variety of providers together with landline phone, cable tv, and broadband web throughout a number of states within the nation.
In October, Morgan Stanley’s infrastructure funding arm acquired healthcare medical providers supplier SpecialtyCare and can also be a co-owner of fiber-based bandwidth expertise platform Lightpath.
WOW inventory is up over 12% as we speak.
By Senad Karaahmetovic
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