Shares of Groupon rose 6% in premarket trade Monday after the company announced an investment of $250 million from Atairos, an independent investment fund run by Michael Angelakis, the former chief financial officer for Comcast Corp. . With the investment Atairos will look into partnerships for Groupon, including a potential partnership with Comcast. "The potential in combining Groupon's local expertise with Comcast's vast subscriber and advertiser network is something we look forward to closely exploring together," Neil Smit, Comcast Cable's CEO, said in the press release. Groupon will also use the money to repurchase stock. The company is purchasing $250 million in convertible debt.
Continue Reading Below
Copyright © 2016 MarketWatch, Inc.