Charter Communications Inc.'s (CHTR) $55 billion purchase of Time Warner Cable Inc. (TWC) was approved by the California Public Utilities Commission, Bloomberg News reported.

After the Federal Communications Commission voted to approve the deal with conditions last week, the California approval was the last one the companies needed.

Charter plans to close the deal next week, Bloomberg reported.

Full story at http://www.bloomberg.com/news/articles/2016-05-12/charter-twc-deal-clears-final-hurdle-with-california-approval

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(END) Dow Jones Newswires

May 12, 2016 14:30 ET (18:30 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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