Cablevision Invites Offers for Optimum West, Delta Nears Virgin Atlantic Deal: Consumer Business Recap
Cablevision Systems Corporation (NYSE:CVC) requests first-round offers for its Optimum West division by the weekend and might get an bid from Charter Communications (NASDAQ:CHTR), according to an inside source. The seller has retained Bank of America Corporation (NYSE:BAC) and Guggenheim Securities as advisers, said another source.
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Continuing a Monday story, Delta Air Lines (NYSE:DAL) approaches an agreement to acquire a 49 percent interest in Virgin Atlantic Airways from Singapore Airlines (SINGY.PK) and could pay under $500 million for it, say three persons familiar with the matter, who added that the price range is between $300 million and $500 million and that a deal might be announced this week. Some 13 years ago, the latter paid £600 million for the Virgin Atlantic stake, or about $966 million now.
Don’t Miss: Delta Stakes its Claim on UK With Virgin Deal.