Nearly a month after Charter and Comcast signed a wireless collaboration agreement with a very interesting merger clause, a report has surfaced indicating the former shot down a buyout bid from Verizon.

The carrier, which is the MVNO partner for both cable operators, reportedly offered to acquire Charter for “well over $100 billion” in recent months, according to two sources cited by the New York Post. But Charter, which is controlled by Liberty Media, shot down the offer both because it was too low and Charter “was not ready to sell,” the Post indicated.

BTIG’s Walter Piecyk last year noted Verizon CEO Lowell McAdam said a cable/wireless merger made “industrial sense.” But the Post reported Liberty Media head John Malone wanted more time for Charter to finish its Time Warner Cable acquisition – and to avoid a transaction with large tax implications.

But Charter is also working on its wireless plans. The operator last month signed an agreement with rival Comcast to work together on common operating platforms, technical standards development and harmonization, device logistics, and emerging wireless technologies. That partnership also includes a clause that prevents either company from moving ahead with a wireless deal without the other’s approval.

The Post’s sources speculated the collaboration between Charter and Comcast could partly be a ploy to push Verizon into a high-value cable deal. But that scenario doesn’t seem to jibe with comments from McAdam himself, who said last month Verizon “encouraged them to work together.” The logic from Verizon’s perspective, he said, is that it’s easier to deal with one customer than two.

That said, a cable acquisition isn’t necessarily off the table from Verizon. Analysts including Wells Fargo’s Jennifer Fritzsche have indicated Verizon could make more fiber plays (like its recent three-year, $1.05 billion deal with Corning) as it gears up for fixed wireless 5G deployments.