Talktalk revolt is short-lived

THE threat of a shareholder revolt came to nothing at Talktalk’s annual general meeting yesterday, with boss Sir Charles Dunstone walking away unscathed.

It was despite shareholder advisory firms ISS and Glass Lewis calling for the executive chairman to be ousted. The Investment Association had also raised serious concerns about a share issue by the broadband provider this year.

But in a re- election vote, Dunstone secured 97pc support. The 53-year- old controls 28.6pc of the company personally. The row erupted when Talktalk raised £200m by placing shares representing 19.99pc of stock, just below the threshold needing investor approval, angering some shareholders. Talktalk said it was vital to ensure flexibility in an overhaul.