The deal was announced only last week and followed Daisy CEO Neil Muller’s departure from the company
Daisy will no longer acquire TalkTalk’s direct B2B business for £175m, TalkTalk claimed the decision was “jointly agreed”.
The deal was expected to be sealed by the end of the month after being announced on May 24, but has now been rescinded. The deal would see Daisy take control of TalkTalk’s 80,000 enterprise clients.
In a statement to the London Stock Exchange, TalkTalk said: “TalkTalk and The Daisy Group have jointly agreed not to proceed with the proposed sale of TalkTalk’s direct B2B business, as announced on 24 May 2018. Daisy remains an important, long-term strategic partner for TalkTalk.”
The news follows Daisy CEO Neil Muller resigning from his post and founder Matt Riley taking up the mantle once again.