Verizon approaches Charter about potential takeover - report

(Telecompaper) Rumours of a potential Verizon acquisition in the cable market are getting stronger, as the Wall Street Journal reports that the telecom operator made a preliminary approach to Charter Communications. Verizon CEO Lowell McAdam talks to officials close to Charter, which has a market value of more than USD 80 billion, according to the paper's sources. Verizon is working with advisers to study a potential transaction. Any deal will need to gain the approval of cable tycoon John Malon