Shares for the troubled communications firm TalkTalk have fallen by 20% following recent news that their systems had been hacked and customer data stolen. TalkTalk’s Chief Executive Dido Harding has issued a robust statement maintaining that the company and its share values will recover in the longer term, and already they have begun to rally. Harding went on to state that the incident will cost the company somewhere between £30 and £35 million.
All TalkTalk customers are going to be offered a free upgrade to their existing package and those customers directly affected will have any penalty removed so that they are free to leave the company and go elsewhere, but only if they can demonstrate that they have actually suffered a direct financial loss as a result of their data being stolen. This in itself has helped prop up the share price as the anticipated exodus from the company will probably only happen now in a more limited form.