May 24, 2018
Opening Quote: TalkTalk finds competing isn't cheap; Go-Ahead finds fans
Sky News's ever-well-connected Mark Kleinman revealed that the transaction gives Daisy roughly 80,000 of TalkTalk's directly billed business customers, but TalkTalk retains 80 per cent of its existing B2B revenues, including those from wholesale broadband. Headline ebitda fell 35 per cent to £231m - the very bottom of reduced guidance - as TalkTalk found itself drawn into a price war with price-cutting rivals BT Group and Sky. TalkTalk today admitted that the fall in ebitda had been "Driven significantly by investment in base growth" and dilution of average revenue per user. At the same time as the warning on profit in February, TalkTalk also broke news of a share placement to raise £200m, to be split between debt reduction and investing £100m into a 20/80 company with M&G Prudential, to lay new fibre connections to 3m premises. This morning, TalkTalk announced that BT Group veteran Paul Reynolds will chair the new company, with TalkTalk chief operating officer Charles Bligh becoming the venture's chief executive, to oversee the roll out of the fibre network.
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