European telecom giant Altice NV and its U.S. cable subsidiary Altice USA Inc. are considering a bid to acquire Charter Communications Inc., Reuters reported Aug. 9, citing sources familiar with the details.

While the companies have not yet made a formal proposal to Charter, Altice is lining up banks to fund a potential cash-and-stock offer for Charter, according to the report.

Altice NV and Charter reportedly declined to comment, while Altice USA was not immediately available for comment.

The news follows a recent report indicating that SoftBank Group Corp. has secured as much as $65 billion from four banks for a possible formal takeover offer for Charter.