Altice USA gains amid Comcast takeover speculation
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Altice USA (NYSE:ATUS) rose 7.3% on some speculation that Comcast (NASDAQ:CMCSA) could be a potential buyer of the smaller cable operator.
Altice (ATUS) gained as traders circulated a research note from Monday from New Street Research that opined about Altice (ATUS) potentially being a target for Comcast (CMCSA).
New Street's Blair Levin highlighted in the note that investors are wondering if Comcast could be interested in a purchase after a number of Comcast veterans are now at Altice, according to a Fierce Telecom story from Tuesday. Neither company has publicly indicated they are interested in a transaction.
Levin argued in the note that a deal would likely pass regulatory approval because it would be viewed as a geographic expansion. An analyst told Fierce Telecom that he felt it was unlikely a Democratic administration would approve an Altice (ATUS) deal.
Altice (ATUS) and Comcast (CMCSA) didn't immediately return to Seeking Alpha's email request for comment.
Altice (ATUS) last Wednesday announced that Comcast veteran Marc Sirota was appointed chief financial officer, effective March 1.

Altice USA (ATUS) short interest is 15%.
Comcast (CMCSA) is scheduled to appear at the Morgan Stanley Technology, Media & Telecom Conference next Wednesday.