TalkTalk H1 24: New guidance implies significant turnaround
TalkTalk has reported their H1 results and set out new medium-term guidance, which we find this optimistic at this stage as it implies a very significant turnaround from current operating trends. They are hoping to provide a more concrete update on the Platform X equity injection by Q1 2024, and there are scenarios that could support a proper equity injection into Platform X for the benefit of bondholders. However, there is still significant event risk for any new shareholder into Platform X which clouds the visibility on how much deleveraging could actually be achieved.TalkPool AG is a Switzerland-based company that designs, implements and maintains mobile and fixed-line telecommunication networks, as well as networks and product solutions for the Internet of Things (IoT). It delivers a comprehensive range of network design, engineering, implementation and managed services designs for telecommunications operators, system vendors and contractors. The Company also develops monitoring systems in buildings with real time applications for building owners and occupants. It operates in approximately 15 countries, such as Switzerland, Germany, Sweden, the United States, Mexico, Haiti, Kenya, Tanzania, Zimbabwe, Uganda, Mauritius, Zambia, Botswana, Pakistan and Saudi Arabia. The Company operates through a global partnership of joint ventures and franchises.
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