Shares in Talktalk have closed down by nearly 10% after the firm warned that profits would be significantly lower this year than previously thought.

TalkTalk also slashed its dividend and announced plans to raise £200m by selling shares on the stock exchange.


The firm is raising money to invest in a network of fibre cables that would allow much higher broadband speeds.


However, this year the telecoms group said expects a key measure of profits to be between £230m and £245m.


That is much lower than its forecast made in November, when it expected the same profit measure to be between £270m and £300m.




BBC      News.