That decision was related to Dais‎y's need to finance a wider deal involving its founder, Matt Riley, buying the stakes of independent shareholders, sources said. TalkTalk Executive Chairman Sir Charles topped up his shareholding in the company on Monday when the shares fell 28.5% intraday. Reports suggest that Sir Charles added to his holding of 11% purchasing additional shares worth £ 750,000 . While stock exchange rules state that when a shareholder increases their stake above 28.5% they must make a mandatory full take over, the move is not thought to be a prelude to a bid to take the company private.
TalkTalk Executive Chairman Sir Charles topped up his shareholding in the company on Monday when the shares fell 28.5% intraday. Reports suggest that Sir Charles added to his holding of 11% purchasing additional shares worth £ 750,000 . While stock exchange rules state that when a shareholder increases their stake above 28.5% they must make a mandatory full take over, the move is not thought to be a prelude to a bid to take the company private.