TalkTalk to raise cash after cutting forecasts
LONDON, Feb 8 (Reuters) - Broadband provider TalkTalk said it would raise up to 200 million pounds ($278 million) through a placing to strengthen its balance sheet after a drive to invest in the business forced it to cut its full-year earnings forecast.
TalkTalk, which spooked investors in November when it lowered guidance and cut the dividend, said it expected full-year 2018 core earnings to come in between 230 million to 245 million pounds.
It had previously forecast earnings toward the bottom end of a 270 million to 300 million pound range. ($1 = 0.7196 pounds) (Reporting by Kate Holton, Editing by Paul Sandle)