NEW YORK (TheStreet) -- Comcast Corp.'s (CMCSA) CEO Brain Roberts told reporters on Wednesday that the company's planned merger with Time Warner Cable Inc. (TWC) is going "full steam ahead," regardless of the concerns surrounding the government's new net-neutrality rules, Reuters reports.
A merger between Comcast and Timer Warner Cable would create the biggest cable Internet provider in the U.S., and the deal is said to be in its final phases and near a closing, Reuters added.
"We are in the final stages of public comment. Sometimes things get slowed down in that phase. We are full steam ahead," Roberts said.
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On Monday, President Obama said that Internet service providers should be regulated the same way public utilities are, setting off a decline in some stocks and a wave of protests from cable and telecom companies, Reuters noted.
Shares of Comcast are higher by 1.25% to $54.27 in mid-morning trading on Thursday.
Separately, TheStreet Ratings team rates COMCAST CORP as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate COMCAST CORP (CMCSA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins."