Expansionist French water company Compagnie Generale des Eaux SA is taking a 51% stake in Middlesex-based Talkland International Ltd, the UK’s largest cellular service provider. Talkland is issuing new shares to Gamlestaden Plc – previously a 50% shareholder – and to Compagnie Generale des Eaux, which is also buying shares from Gamlestaden, a Swedish merchant bank. The 49% balance will now be held between Gamlestaden and Talkland management. Talkland has 165,000 UK cellular subscribers, representing 14% of the installed base of mobile phones in the UK. Its turnover last year reached UKP130m. The executive directors of Talkland are all to stay in their current positions. Managing director Roger Fry said the entry of the water company as a major shareholder in Talkland would secure its growth.
