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TalkTalk share price steady as second teenager arrested over cyber-attack

Veselin Valchev
  • October 30th 2015, 13:03
  • Last Updated: October 21st 2019, 14:39

Talktalk Telecom Group Plc (LON:TALK) shares were unmoved by today’s announcement from the Metropolitan police that a 16-year-old boy from Feltham, west London, has been arrested in connection with last week’s data breach on the company’s website.

Police also said that officers had carried out a search at a residential address in Liverpool as part of the same investigation.
The second arrest of a teenage suspect, following that of a 15-year old from Northern Ireland who was held earlier this week, has strengthened voices claiming that the company was seriously at fault over the breach. Critics argue that the attack was unsophisticated and the company should have had better security.
The cyber-attack, first discovered last Friday, may have exposed personal and bank details of as many as four million customers. TalkTalk said over the weekend that the accessed details are not sufficient to allow direct theft, but analysts and consumer groups were not impressed.
Richard Holway, chairman of TechMarketView, argued earlier this week that TalkTalk might need to rebrand in order to limit the reputational damage caused by the attack, while he also said the telecom could soon become a takeover target from rivals.
TalkTalk’s share price had edged 0.33 percent higher to 242.20p as of 12:24 BST today, outperforming the FTSE 100 which had dipped 0.3 percent into the red. The telecom’s stock is down about 10 percent since the data breach was discovered last week.
Meanwhile, two other major British companies revealed that customer details had been exposed. Centrica’s British Gas contacted 2,200 of its customers yesterday to inform them that their email addresses and passwords briefly appeared online the previous night. The information was uploaded to Pastebin, a temporary text uploading website, and discovered by British Gas during routine checks. The firm removed the data shortly after it was posted.
Elsewhere, clothing retailer Marks and Spencer temporarily suspended its website on Tuesday evening after a number of customers complained they saw other people’s personal details when they logged onto the site. Whereas the problems at TalkTalk and Centrica were external, caused by hackers, the high-street fashion retailer stressed that its problem was internal. The glitch has reportedly exposed details of over 800 customers, but no financial data was compromised.
As of 13:05 GMT, Friday, 30 October, Talktalk Telecom Group PLC share price is 240.65p.

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Veselin Valchev
Veselin is a data scientist with extensive experience in commodities and natural resources within the FTSE 100. His data analysis skills ensure he reports without missing the fine details.

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