Why no one’s TalkTalking about sale of mobile firm

SPARE a thought for Angus Thirlwell. The Hotel Chocolat boss says he was hoping to enjoy his first Easter ‘that was not going to be ruined by the pandemic’ in three years.

The chocolatier’s share price had clawed its way back to preCovid levels. But Russia’s invasion of Ukraine has pummelled markets of late and investors have sold the stock as consumers rein in their spending.

Still, Thirlwell hails the silver lining as the nation tucks into treats today. He says: ‘Families can choose to spend time together, which is a big positive to take out of it.

‘We see our role as keeping the morale of the nation up.

‘There is no doubt a bit of chocolate raises the spirit of the vast majority of people.’

Hear, hear.

TELECOMS bankers don’t appear to be in a frenzy over the prospect of a sale of TalkTalk.

The mobile firm has asked investment bankers at Lazard to manage a sale process. Vodafone and Sky have already been touted as possible buyers. Toscafund – which took the company private last year – and chairman Sir Charles Dunstone reportedly want £3billion.

But analysts at Enders reckon that sum could not be reached without a bidding war.

‘That’s a barmy price,’ sniffed one industry executive. What’s more, credit ratings agency Fitch downgraded TalkTalk earlier this year.

Bankers reckon Vodafone – which has also been linked to a deal for Three – is the frontrunner as TalkTalk could bolster its broadband business.

That tie-up appears much more likely to be given the green light by competition regulators than Sky, BT or Virgin.

Outsiders Shell Energy and CityFibre are thought to be highly unlikely to make a bid.