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Carphone confirms TalkTalk demerger

In its Q4 trading update, Carphone Warehouse confirmed its intention to demerge the TalkTalk brand once the appropriate finances are in place.

The group indicated that there were strong sales across the two divisions in the quarter, but it expects TalkTalk group revenue to be flat over the financial year.

It netted 74,000 total new broadband customers, an improvement on previous quarters for the year.  Its new range of ‘booster’ products which can be bolted onto the basic TalkTalk broadband package, appears to have contributed to the success.  Net additions were 97,000 but it lost 23,000 AOL broadband customers over the quarter.

In a statement, Charles Dunstone, CEO of Carphone Warehouse confirmed that TalkTalk will split from Carphone Warehouse to become ‘two separately-listed companies’. 

Operationally, the split has already been completed, but Mr Dunstone points out that the formalities of getting this completed depends on the cost and reallocation of the Group’s credit facilities.