The group founded by Sir Charles Dunstone is proposing a funding solution led by him and his fellow shareholders in one of the UK’s biggest broadband providers, Sky News understands.
TalkTalk, the telecoms group founded by Sir Charles Dunstone, will meet bondholders next week to discuss proposals for a £200m-plus capital injection from its owners. Sky News understands that the company and a group of key lenders and their advisers, will hold talks on Tuesday about plans for Sir Charles and other shareholders to inject the new funding. TalkTalk is one of Britain's biggest broadband providers, with nearly 4m customers.
Separate discussions with Macquarie, the Australian banking behemoth, about a larger investment into TalkTalk's wholesale network business, PlatformX, are continuing but have yet to reach a resolution. James Smith, TalkTalk's chief financial officer, told debt investors during a results call this week: 'We anticipate agreement on new capital investment into the business in the near future, and discussions to achieve that are ongoing.
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