TalkTalk completes Carphone split

Carphone Warehouse’s TalkTalk broadband arm made its stock market debut today as the company split 21 years after it was founded by Charles Dunstone.

TalkTalk Telecom – the UK’s second biggest broadband firm behind BT with more than four million customers – is valued at around £1.1bn (€1.2bn) following the long-awaited demerger.

The split leaves Carphone Warehouse with its 50% stake in Best Buy Europe – its joint venture with the US consumer electronics giant – and a 47.5% stake in Virgin Mobile France.

Carphone Warehouse has a current market value of around £620m (€689m) following the shake-up.