Toscafund and Penta, two private equity firms, agreed to acquire TalkTalk, a provider of pay television, telecommunications, Internet access, and mobile network services, for $1.49bn. "The independent TalkTalk directors believe, taking into account the advice they have received, that the terms of the cash offer are fair and reasonable and are unanimously recommending that shareholders accept the cash offer," Ian West, TalkTalk Senior Non-Executive Independent Director.