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| Name | Symbol | Market | Type |
|---|---|---|---|
| Tesco PLC (PK) | USOTC:TSCDY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.2375 | 1.91% | 12.6975 | 12.50 | 12.79 | 12.6975 | 12.50 | 12.50 | 259,101 | 21:18:30 |
From Jul 2019 to Jul 2024
By Ian Walker
LONDON--TalkTalk Telecom Group PLC (TALK.LN) confirmed Thursday that it has bought the online entertainment service blinkbox and the Tesco broadband and voice base from Tesco PLC (TSCO.LN) for an undisclosed sum.
It did say, however, that the assets have been bought free of debt and as a single transaction for cash.
Late last year the market was rife with reports that TalkTalk had emerged as the buyer for the loss making blinkbox business and today's announcement was expected.
"The integration of blinkbox with our existing TV business is expected to begin immediately with the benefits of restructuring the combined platform and revenue synergies expected to flow from the end of calendar 2015," TalkTalk said.
As part of the same transaction, the company also bought Tesco's broadband and voice base--75,000 broadband and 20,000 voice households--enabling TalkTalk to further leverage the superior scale and economics of its national network.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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