TalkTalk extends bid deadline for investment firm Toscafund for a second time

By City & Finance Reporter for the Daily Mail

Published: 21:18 GMT, 3 December 2020 | Updated: 21:18 GMT, 3 December 2020

TalkTalk is extending Toscafund’s bid deadline for second time

TalkTalk is extending Toscafund’s bid deadline for second time.

The investment firm, which is already a major shareholder in the telecoms group with a 29 per cent stake, now has until December 17 to table an offer or walk away.

Toscafund made a 97p-ashare approach for TalkTalk in October, valuing the group at £1.1 billion, with an original deadline of November 5.

This was moved to December 3 before the latest extension, as the two firms continue discussions and as Toscafund carries out due diligence. Tosca also has stakes in Ted Baker and Stobart Group.

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