TalkTalk Group

Ticker TALK

Today's data summary

Market open
% change
Price Pence
As of 13:52 22 Jan 2020
Market cap. Pound sterling
1,284.18 million
As of 13:52 22 Jan 2020

Latest updates

TalkTalk sells fibre network for £200m

Fibre optic cables
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TalkTalk has agreed the £200m sale of its FibreNation fibre network business to CityFibre, a company backed by Goldman Sachs.

The sale of the business had been delayed last year when the Labour Party said it would nationalise BT's Openreach network if it won the general election.

However, the removal of that potential scenario cleared the way for the deal to go through.

TalkTalk chief executive Tristia Harrison said the deal was "good news for TalkTalk, and good news for Britain and its full fibre roll-out ambition".

"Our investment over the last five years and the excellent work delivered by the FibreNation team, combined with CityFibre's well-established platform, will support wide geographic reach of full fibre and further drive competition in the market."

TalkTalk trading as planned

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Tristia Harrison, chief executive of TalkTalk, says trading in the first half "is in line with our plan".

Revenue is up 1.3% to £387m and cost savings are on track.

TalkTalk service named 'worst' again

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TalkTalk has failed to improve its standing on customer complaints in Ofcom's annual survey - the broadband provider has come bottom of the table for the third year running.

In 2017 it shared the honour with Virgin Media, but in 2018 and 2019 the prize was all TalkTalk's.

Its customers were most likely to be unhappy with the outcome of complaints.

A spokeswoman for TalkTalk said the data showed an "improving trend" on the number of complaints.

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