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Prices & Quotes - UK Markets - TalkTalk Telecom Group (TALK)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 97.00p
Change Today:
0.100p
Market Cap:
1,111.62m
Sector:
Fixed Line Telecommunications

TalkTalk gets second extension for Toscafund bid talks

By Sean Farrell

Date: Thursday 03 Dec 2020

LONDON (ShareCast) - (Sharecast News) - TalkTalk has announced a second extension to takeover talks with Toscafund Asset Management to allow commercial discussions and checks to continue.

The FTSE 250 telecoms group said on 8 October it was talking to Toscafund about a cash approach valuing the company at 1.12bn. TalkTalk agreed an extension to the first deadline on 5 November.

Toscafund, one of TalkTalk's biggest investors, had until 3 December to announce a firm intention to make an offer. TalkTalk has asked the regulator to give the talks more time and Toscafund now has until 17:00 on 17 December to come up with a firm bid.

"Commercial discussions and due diligence are progressing with TAM," TalkTalk said. "As a consequence ... the board of directors of TalkTalk has requested that the Panel on Takeovers and Mergers extends the deadline."

Toscafund's 97p a share proposal values TalkTalk shares at 16.4% more than the closing price before the approach was announced. It contains a number of conditions including that Charles Dunstone, TalkTalk's founder and executive chairman, supports the deal and agrees to "an election for any unlisted share alternative" for his shares in the company.

The hedge fund, headed by Martin Hughes, increased its stake in TalkTalk to 29.1% from 28% in June. Dunstone bought 1m shares soon after and owns 20.86% of the company.

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TALK Market Data

Currency UK Pounds
Price 97.00p
Change Today 0.100p
52 Week High 108.30p
52 Week Low 69.50p
Volume 453,160
Shares Issued 1,146.00m
Market Cap 1,111.62m

Performance Indicators

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Operating Margin
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What The Brokers Say

Strong Buy 0
Buy 0
Neutral 3
Sell 0
Strong Sell 1
Total 4
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

TALK Dividends

  Latest Previous
  Final Interim
Ex-Div 09-Jul-20 28-Nov-19
Paid 07-Aug-20 16-Dec-19
Amount 1.50p 1.00p

Trades for 05-Mar-2021

Time Volume / Share Price
16:44 650,000 @ 96.85p
16:41 4,514 @ 97.00p
16:35 287,507 @ 97.00p
16:29 125 @ 96.95p
16:29 68 @ 96.95p

TALK Key Personnel

CEO Tristia Harrison