This article was last updated on April 16, 2022
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Britain’s TalkTalk Telecom Group has revealed that despite the consequences of the cyber-attack in October, which cost the company up to 80 million pounds, it had fewer customers quit on it than expected. Soon after the attack, the company’s Chief Executive, Dido Harding, revealed on television and radio that an attack has possibly put the financial data of company’s 4 million customers at risk.
It has now been confirmed that the actual effect of the attack turned out to be far lesser than expected, meaning that only limited data was stolen from about 157,000 people. However, Harding explained that bad publicity did cause a spike in defections and “we saw a big dip inevitably in early November and then the business started returning to normal through December and very much back to normal now.” Looking back at the time now, TalkTalk lost up to 101,000 customers, i.e. less than 3 percent of the subscriber base, and its rivals like Sky and BT benefitted from TalkTalk’s problems and added 144,000 and 130,000 broadband customers respectively in the last three months of 2015.
Even though TalkTalk’s shares fall as much as 36 percent since October, they were are now being traded up by 10 percent at 240.7 pence at 1035 GMT. Commenting on the situation, Jefferies explained that “bearing in mind the unprecedented bad publicity that the company faced and it need to withdraw from active marketing for a time, these results look less bad than could have been feared.”
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