The demerger of TalkTalk from Carphone Warehouse at the end of 2010 was designed to build value for shareholders by giving both companies the freedom, focus and flexibility to develop and pursue the strategies that were right for each of them.
There can be no doubt that the demerger has worked. TalkTalk’s first year as a standalone company has been one of intense activity and we are delivering the benefits of our growth and scale, reporting strong growth in earnings and operating free cash flow.