BT to buy broadband supplier TalkTalk in £400m rescue deal, saving 900 jobs
BT has agreed to acquire broadband provider TalkTalk out of administration for £400 million, a move expected to save 900 jobs. The deal faces a regulatory review by the Competition and Markets Authority due to concerns over market dominance and the impact on vulnerable customers.
Why it matters
The acquisition consolidates the UK broadband market and raises significant concerns regarding competition and the safety of vulnerable users reliant on legacy telecare devices.
TalkTalk reported revenues of about £1.2bn over the past 12 months and is loss-making. TalkTalk reported revenues of about £1.2bn over the past 12 months and is loss-making. BT BT to buy broadband supplier TalkTalk in £400m rescue deal, saving 900 jobs Virgin Media O2 complains of ‘stitch-up’ over rival provider, which has 1.5m customers
Nils Pratley: BT’s purchase of TalkTalk is cosy – but probably politically sensible
Prefer the Guardian on Google BT has agreed to buy the broadband supplier TalkTalk out of administration in a £400m rescue deal that will save 900 jobs.
The company said it had struck a deal to acquire TalkTalk and its wholesale business PlatformX Communications (PXC) on a debt-free basis, in a move that is expected to cost it £400m.
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