Buying TalkTalk must be asking for paying to have a swim in a septic tank.
UK ISP TalkTalk confirms it will MullMull go-private takeover offer valuing it at £1.1bn
UK ISP TalkTalk has confirmed it is considering a takeover offer from Toscafund Asset Management that values the broadband and TV provider at £1.1bn. Toscafund Asset Management, which already owns 30.5 per cent of TalkTalk, is aiming to pay 97 pence per share. That's a premium of 13.5 pence on the previous day's closing price …
COMMENTS
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Thursday 8th October 2020 14:07 GMT Steve Foster
Virgin/O2 Combo
"Back in May, Liberty Global and Telefónica said they would merge their respective UK telecoms businesses, Virgin Media and O2"
The UK's Competition & Markets Authority wants to investigate this, though (it's applied to take it off the EU equivalent, as it's currently under that body's purview), so it might not happen.
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Thursday 8th October 2020 15:07 GMT Zimmer
On a slightly different tack..
"Consolidation allows providers to increase their subscriber base, but also add additional product lines – and cost "efficiencies", as they euphemistically call them".
Having privatised BT to break its monopoly and provide competition for the benefit of the consumer it looks like we could be heading for a private monopoly in the telecoms sector, possibly preceded by a powerful private cartel... .
Cynical? Moi? The coat? It's the hoodie with built-in face mask and tinfoil lining...
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Thursday 8th October 2020 18:26 GMT Muscleguy
Re: All you need to ask is
It is not debt. They all printed money. Which would normally depress the currency. Except everybody has done it so everybody’s currencies deflated in concert leaving the relative values at worst slightly different.
Note euro zone countries had to do it differently. How did the Euro central bank come up with the funds? it printed the money. It was just an internal distribution problem.
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Thursday 8th October 2020 15:19 GMT Aristotles slow and dimwitted horse
Perhaps they could bring back good old Dildo to run it as well. After fucking up TalkTalk once, and that monumental public fuckup being the qualification for her to publicy fuckup the Track and Trace fiasco - I can think of no-one more qualified to run the remains of the business into the ground once and for all.
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Thursday 8th October 2020 15:56 GMT Keith Oborn
A pity
I did some work there around the time that Dido went. I got the distinct impression of a bunch of good people who were very worried about any other security issues, and really wanted to do a good job. They were worthy of encouragement.
I bet this deal will go the usual way, private finance extracts their pound of flesh and the company is hung out to dry.
It may depend on Dunstone's attitude: he's not the nicest person, but I got the impression that he actually gives a damn about this baby.
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Thursday 8th October 2020 17:20 GMT Anonymous Coward
Re: A pity
He doesnt give a damn, except money. The very reason he de-merged TT from Carphone Warehouse, hoping to cash up from this retail arm, because consolidation was the happening thing in Telecoms. ( Three wanted to buy O2 to use their infra for 5G, VodaCON looking for landline partners for home BB, VirginMedia shuffling in their shoes (now with O2), BT takeover of EE, 5G on the horizon etc)
Unfortunately, the markets have tanked and he might just have to lick it, else hold out for another 2 years at least to achieve last year's offer price.
Consumers will suffer due to this VC takeovers with inevitable price rises.
BT alread has announced price rises, which trickle down to other Openreach networks. Why the F*** should we pay for shitty footballers' indulgences and fancy haircuts?
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Friday 9th October 2020 06:16 GMT paulf
Company value
FTA: Analyst Megabuyte said of the potential deal: "Toscafund... has, one assumes, decided to swoop with TalkTalk shares at around all-time lows, and well down on the just over 400p achieved in 2015, and with the company valued at little more than an incumbent telco [BT]." (my emphasis)
Someone may have to help me out with this one. BT valuation today is £10.5B, and Talk Talk is about a tenth at £1.09B
Does that mean this big shot analyst is comparing only the nominal share prices, without putting them in the context of the number of shares in issue?