TalkTalk Agrees £100m Funding Deal With Ares Management: Sky (1)

TalkTalk has agreed a £100 million funding deal with existing backer Ares Management, Sky reports, citing people familiar with the situation.

• Funding to come in two tranches, with the first £60m said to be “imminent”
• A deal could be announced as soon as this afternoon
• Disposals of TalkTalk’s consumer arm and PXC unit no longer expected to be launched in the short term
• TalkTalk has also raised £50 million from two disposals in March and June to Utility Warehouse, one person told Sky
  • Also an in-principle agreement to defer cash interest payments and to capitalise those, which would be worth ...