The takeover will see TalkTalk disappear from the London Stock Exchange
17 December 2020 • 1:55pm
The board of TalkTalk has backed a £1.1bn take-private offer from a hedge fund tycoon nicknamed “the Rottweiler”.
Bosses have thrown their weight behind the 97p-a-share offer by Martin Hughes’ firm Toscafund, the broadband provider’s second largest shareholder.
Chief executive Tristia Harrison said the move to become a private business would hand TalkTalk the “agility and freedom” to meet the soaring demand for data.
Toscafund’s swoop is being supported by Penta, the buy-out fund that has invested in telecoms firms such as Daisy, Wireless Infrastructure Group and Six Degrees.
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