back to article UK ISP TalkTalk ready to go PrivatePrivate, says yes to £1.1bn takeover offer

TalkTalk has agreed to a £1.1bn takeover from Toscafund, its second-largest existing shareholder after company founder Sir Charles Dunstone and private equity fund Penta Capital. The terms of the deal are unchanged from the original bid, valuing each share at 97p. This represents a 16.4 per cent premium on the pre-offer …

  1. macjules
    Meh

    FFS

    "The group said "trading restrictions" and the removal of "call usage caps" during COVID-19 dented income."

    What trading restrictions and who on earth makes money from calls now in an age of WhatsApp or Skype? Right at a time that most of the UK has been living under severe local restrictions fast, reliable broadband is now no longer a nice-to-have but a fundamental necessity and I am sure that TalkTalk have a nice big share of that pie. Especially consider that having multiple owners of broadband infrastructure competing to deliver to the network does not translate into more competition and most certainly has not translated into better outcomes for consumers as companies like TalkTalk have actually increased their charges during the pandemic.

    TalkTalk, as usual, appear to have confused their mouth with their Dido Harding.

  2. Aristotles slow and dimwitted horse Silver badge

    The other thing about going private...

    The other thing about going private is that they'll be saved the pain of having to report their ongoing demise to the market analysts every quarter... shame that eh?

  3. anthonyhegedus Silver badge

    "The group said "trading restrictions" and the removal of "call usage caps" during COVID-19 dented income."

    What call usage caps have been removed? They're talking a load of wankwank. But then Dodo Harding gave their consumer arm such a bad reputation.

  4. Red Ted
    FAIL

    Shall we open a sweepstake on how long Talk Talk survives?

    My understanding of this process is that the firm is taken private by borrowing a vast sum of money, which is loaded in to debt for the holding company.

    Next all but the central part that is making the most money is sold off or closed to give an apparently really profitable business.

    This is then floated again, but the company is saddled with the massive debt from the going-private process, so as soon as the profitability drops off the debt repayment becomes too much and the company goes bust.

    1. Steve Davies 3 Silver badge

      Re: Shall we open a sweepstake on how long Talk Talk survives?

      I give them three years.

      The first year will be very much BAU

      The second year will see rising prices and lots of customer exits

      The Third and final year will see the PE company looking to bail out and load what is left of the company will a billion or so in Debt.

      Whatever happens... Talk-Talk as we know and hate is doomed.

    2. hoola Silver badge

      Re: Shall we open a sweepstake on how long Talk Talk survives?

      But the shareholder will be happy as they have their money. The Private Equity fund is happy as they continue to do what they do best, completely screw companies and people over whilst they liberate vast amounts of cash. I have not looked by there will be a pension fund in there somewhere ready to be "reinvested".

      Many a good and some bas companies have been totally shafted by these practices.

  5. Random Grinch
    Coat

    Writing on the wall?

    As a long time TT (Tiscali!) customer, I haven't really had any issues with them.

    However the writing seems to be on the wall as they start dumping services. TTTV is stopping early next year, but current subscription prices are being raised. They are also offering 50% discount on NowTV packages.

    I can't think of any clearer way of saying 'We don't want your business any more'!

    1. Anonymous Coward
      Anonymous Coward

      Re: Writing on the wall?

      It's strategy, innit.

      Strategy one: "we must be be in the quad-play market, with one bill for phone / broadband / TV / mobile"

      Strategy two: "we must simplify our offering and focus on our core broadband business"

      When strategy one isn't working after, a few years you switch to strategy two. When that's not working, you switch to strategy one. Repeat ad nauseam.

      1. Anonymous Coward
        Anonymous Coward

        Re: Writing on the wall?

        Yep and strategy 0, improve profits by being less shit, never seems to get considered.

  6. teebie

    I don't get it. When you are taken over by private equity the quality of your customer service is supposed to drop. I don't know how Talktalk will manage to achieve this.

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