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TalkTalk shares rocket as firm restricts exit fee waiver for customers

Published 27/10/2015

TalkTalk shares closed up 13.2%
TalkTalk shares closed up 13.2%

TalkTalk shares rocketed more than 13% today as the firm took a robust stance on customers wishing to leave in the wake of last week's cyber attack.

The phone and broadband provider told customers that it would only waive termination fees if they could show they had money stolen from their account as a direct result of the hack.

Requests would be considered on a case-by-case basis, it added.

The decision drew criticism from certain sections, with consumer site Which? describing it as the "bare minimum" TalkTalk could do.

However, the moved eased investor fears that the company might face a customer exodus.

TalkTalk has insisted the number of people affected by the hack is far lower than first thought and that any credit or debit card details that may have been accessed had a series of numbers hidden, meaning they cannot be used for financial transactions.

Shares in the firm closed up 13.2%, clawing back much of the combined 16.4% fall seen in the previous two days trading.

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