TalkTalk Telecom Signs Multi-year Commercial MVNO Deal With Telefonica UK

(RTTNews) - TalkTalk Telecom Group plc (TALK.L) Monday announced that it has entered into a new multi-year commercial MVNO agreement with Telefonica UK Ltd, a unit of Spanish telecom group Telefónica S.A. (TEF, TDE.L). Under the deal, Telefónica UK will provide TalkTalk with access to its 2G, 3G and 4G services in the UK.

The company said the new MVNO agreement will enable it to offer its existing 4 million consumer and business broadband customers a high quality mobile proposition. It will also materially advance the firm's plans to build a scale and profitable quad-play business over the medium term.

The company further said that access to the fast growing Telefónica UK 4G network is also a major step forward in its long term strategy to build a small cell and Fibre-To-The-Premise network.

Dido Harding, CEO of TalkTalk, said, "This is a significant development for TalkTalk, building on our success in mobile to date. We are ideally placed to benefit from the market shift to quad-play, with a sizeable and growing number of customers already choosing to take mobile from us. We see real opportunities in both the near term and further out, to work with Telefónica UK to further accelerate our quad-play growth."