(Reuters) - John Malone's Charter Communications Inc struck a $56 billion deal to buy Time Warner Cable Inc, seeking to combine the third and second largest U.S. cable operators to better compete against market leader Comcast Corp. Charter, in which Malone-chaired Liberty Broadband Corp owns about 26 percent, offered about $195.71 in cash-and-stock for each Time Warner Cable share based on Charter's closing price on May 20, the companies said in a statement on Tuesday. Pay TV companies such as Time Warner Cable and Charter have been experiencing slowing growth over the years as customers access TV shows and movies over the Internet through services provided by Netflix Inc and Hulu.
BERLIN/BRUSSELS (Reuters) - A senior German official said on Tuesday there was no reason to believe Greece would be in default after a 300 million euro payment to the IMF falls due on June 5. Separately, euro zone officials said deputy finance ministers would hold a teleconference on Thursday to follow up on days of negotiations between representatives of Greece and creditors the International Monetary Fund (IMF), the European Central Bank and the European Commission. If no deal is reached within EU/IMF for new loans to be disbursed to Athens, Greece is likely to default on the IMF loan repayment.
Internet retailer Amazon.com Inc.'s main German operating unit paid just 11.9 million euros ($16 million) in tax in 2014, despite the group recording $11.9 billion in sales to German customers last year, regulatory filings show. Germany is Amazon's biggest market outside North America, its annual report shows, but until recently all sales and almost all profits were reported via lightly taxed Luxembourg companies. Amazon's main German operating unit, Amazon.de GmbH, manages the German website and oversees deliveries but is funded by payments from the Luxembourg companies.
By Joyce Lee and Se Young Lee SEOUL (Reuters) - Samsung Group's de facto holding company on Tuesday sought another cornerstone as it reconstructs South Korea's biggest conglomerate to smooth the path for management succession, offering more than $8 billion to buy an affiliate with a key stake in flagship firm Samsung Electronics. Cheil Industries Inc, with interests from construction to fashion, is offering new stock priced at about 8.9 trillion won ($8.11 billion) to buy building firm Samsung C&T Corp. After recent market jitters on Samsung's overhaul, shares in both rose nearly 15 percent - taking Samsung C&T's value beyond the offer price to about 10 trillion won. It would also cement the position of heir-apparent and Samsung Electronics vice chairman Jay Y. Lee, likely to remain top shareholder of the merged entity, as Samsung prepares for the eventual transfer of control from ailing patriarch Lee Kun-hee to his children.