A potential takeover of internet service provider TalkTalk has hit a stumbling block after auditor Deloitte tendered its resignation after 22 years.
Although TalkTalk called it part of a planned rotation following a business demerger in 2023, one analyst voiced concerns over the resignation’s impact on TalkTalk’s future.
In comments published in The Telegraph, analyst James Ratzer from boutique research firm New Street Research said Deloitte’s resignation “reduces the chance that any company would want to take over TalkTalk”.
TalkTalk was taken private by Toscafund Asset Management in 2020 but has since encountered financial difficulties.
It inked a £400 million rescue deal with lenders this August to prevent a default on debt, but the ISP has also been exploring buyout options.
Virgin Media O2 reignited discussions for a potential acquisition of TalkTalk's consumer division in February, but no updates from the group have emerged since.