Merger talks over Time Warner Cable are pitting French-Israeli tycoon Patrick Drahi against his former boss, media mogul John Malone.

A bid for Time Warner Cable, the second-largest US cable company with a market value of $48 billion, would be the boldest move yet for Mr Drahi, just days after his Altice holding company made a surprise foray into the US with the announcement of plans to buy a much smaller rival.

It would also incite a billionaire tug of war. Mr Malone's Charter Communications is said to be pursuing Time Warner Cable – for the second time in a year. Time Warner Cable's talks with Altice and Charter are set to continue through to the weekend – (Bloomberg)