Telecoms provider Talktalk has extended the deadline for major shareholder Toscafund to make a solid offer for the company until 3 December.
Last month the asset manager made a 97p per share approach for Talktalk, with the original deadline set for today.
The current offer values the telecom at around £1.1bn, and represents a significant step down from previous bids.
Toscafund itself reportedly offered 135p per share for the company last year.
London-based Toscafund has assets of around £4bn and is run by ex-Tiger Management banker Martin Hughes, who is known as the “Rottweiler”.
Talktalk’s shares are tightly held by founder Sir Charles Dunstone, who owns 29.9 per cent, while Toscafund controls 29.1 per cent.
Some shareholder advisory groups raised concerns about the offer, with several voicing concerns about shareholder independence.