TalkTalk Dunstone's shareholding falls £33m after loss announcement
TalkTalk executive chairman Sir Charles Dunstone saw £33m ($44m) wiped off the value of his shares in the telco after it posted a £75m loss for the six months through September. Dunstone, who owns almost one third of the company, returned to its helm in February to turn its fortunes around. Shares in TalkTalk fell 17% after the loss was announced, reducing the value of Dunstone's holding to £524m.

Sir Charles Dunstone saw £33million wiped off the value of his TalkTalk shares after the firm crashed into the red.

The 52-year-old businessman, who owns nearly a third of the internet provider he set up in 2003, is spearheading efforts to revive its fortunes having taken over as executive chairman in February.

But his turnaround plan suffered a bruising setback yesterday TalkTalk posted a £75million loss for the six months to September 30.

Shares tumbled 17 per cent in early trading before closing down 6 per cent or 11.3p at 178.2p.

That cut the value of Dunstone's 294m shares in the company by £33million to £524million.