Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Charter's heavy hitters sell $390 million in stock

Two of Charter Communications' biggest shareholders are selling $390 million worth of their stock. The big cable company says Apollo Capital will sell 3.3 million shares in an underwritten stock offering. That will cut its stake in Charter from 33 percent of all Charter shares to 29 percent. Oaktree Opportunities Investments will sell 1.7 million shares, cutting its stake from 17 percent to 15 percent.

The sale was announced after the stock market closed. Charter's stock rose $2.42 to $77.93 before the close. Citigroup will underwrite the sale.

(Jim Gallagher)

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