The company’s second-biggest investor tabled a £1.5bn bid to take it private last year, Sky News understands.
The spokesman added that Toscafund"remains fully supportive of the board and management of TalkTalk", with a source saying that it had voted in favour of all resolutions at the telecoms group's recent annual general meeting.
"Toscafund is aware that UK broadband fibre and mobile participants are undergoing a phase of consolidation with all the benefits that will bring, and believes that the 135p-per-share valuation of 2019 represents a deep line in the sand, given that TalkTalk is in a better condition in 2020 than it was in 2019."
TalkTalk now has a market capitalisation of less than £900m, compared to the £1.5bn implied by the Toscafund bid.
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