The proposed £1.1bn takeover of TalkTalk has taken another step forward and is now set to be completed later this month.
Tosca IOM is behind the deal after having first made a non-binding proposal in October 2020.
Under the terms, scheme shareholders are set to be entitled to receive 97 pence per share.
The Salford-headquartered firm's investment in the telecommunications giant will see it taken off the London Stock Exchange.
Subject to a court approval of the scheme and an order being delivered to the Registrar of Companies, it is anticipated that the deal will become effective on March 12, 2021.
As a result, dealings in TalkTalk shares will be suspended at 7.30am on that day before being taken off the stocks from 8am on March 15.
The update comes after more than 98% of scheme shareholders voted to approve the deal.
Speaking in December, TalkTalk chairman Sir Charles Dunstone said: "I am pleased to have the opportunity to continue to be a major shareholder in TalkTalk.
"My decision underlines my passion for the company and the confidence the senior management team and I have about our journey ahead.
"That said, as the UK transitions to full fibre we have a hugely challenging, but exciting, opportunity.
"Being a private company would allow us to accelerate adoption and focus on our role as the affordable provider of fibre for businesses and consumers nationwide.
"The telecoms industry is going through a fundamental re-set and we are keen to play our part in it."
Panmure Gordon (UK) is acting as financial adviser to the offeror while Barclays Bank PLC, acting through its investment bank, is joint lead financial adviser, joint Rule 3 adviser and joint corporate broker to TalkTalk.
Deutsche Bank's London branch is acting as joint lead financial adviser, joint Rule 3 adviser and joint corporate broker to TalkTalk.
Lazard & Co is acting as financial adviser to TalkTalk.
Dickson Minto W.S. is acting as legal adviser to Tosca Penta and the offeror. Osborne Clarke is acting as legal adviser to TalkTalk.
