Internet service provider TalkTalk has officially demerged from Carphone Warehouse, it has been announced.
The broadband provider began trading as a separate entity on the stock exchange this morning (Monday March 29th) and will be run as an entirely independent company to its former parent.
According to the Financial Times, TalkTalk shares rose from 115p to 120.5p this morning as trading got underway.
The news provider reported that the combined market value of TalkTalk and Carphone Warehouse significantly exceeded that of the previously merged company, offering an early indication that the decision may have benefits for all shareholders.
Last year, TalkTalk completed the purchase of rival ISP Tiscali, hinting at its ambitious expansion plans for the consumer market.
A purchase price of £236 million was widely reported when the acquisition was initially announced in May 2009.