LONDON, Dec 8 (Reuters) - The founder of hedge fund TCI said on Thursday he expected U.S. firm Charter Communications to carry out large share buybacks and could eventually receive a takeover bid from Verizon.
“Margins are going to be much higher than consensus assumes,” Chris Hohn told the Sohn Conference in London, profits that would help fund extensive share buybacks, totalling 35 percent of the outstanding shares.
Hohn, who owns 5 percent, also said he expected the company to be a takeover target in a consolidating U.S. market. “We think Verizon over time will buy Charter.”
Reporting by Maiya Keidan, Editing by Simon Jessop