Tosca IOM completes TalkTalk takeover

16 Mar 2021

A takeover of British broadband provider TalkTalk by Tosca IOM has been completed, with the former’s shares delisted from the London Stock Exchange yesterday (15 March). As previously reported by CommsUpdate in December 2020 TalkTalk announced that it had agreed a GBP1.112 billion (USD1.5 billion) takeover offer by Tosca IOM, a newly-incorporated company formed at the direction of Toscafund and private-equity investor Penta for the purposes of the acquisition. Under the terms of the deal, TalkTalk shareholders were offered GBP0.97 per share. With the acquisition having been implemented by way of a court-approved scheme of arrangement, TalkTalk shareholders voted in favour of the deal earlier this month, and with the scheme having become effective, the telco’s entire issued share capital is now held by Tosca IOM.

United Kingdom, TalkTalk