TalkTalk races to sell consumer and broadband arms as administration looms
Customers and jobs ‘top priority’ as company closes in on deals with Opus Broadband and investment group Octopus Business live – latest updates TalkTalk is scrambling to secure its future amid the threat of administration, closing in on deals to sell its consumer and broadband arms as it seeks to save 900 jobs. The telecoms company said on Friday it is in the final stages of sealing deals to sell…
TalkTalk is racing to sell its consumer and broadband services in an attempt to avoid administration and protect 900 jobs. The telecoms giant is in the final stages of negotiations with Opus Broadband and investment firm Octopus Investments to sell its consumer business and wholesale operation, PXC. Both transactions are expected to be completed soon.
With its customer base dwindling from 4 million in 2019 to around 1.5 million, TalkTalk has struggled in the competitive market. The company is seeking to protect customers and employees by ensuring a smooth transition. Opus Broadband's spokesperson emphasized its priority to keep customers connected, while the fate of PXC's work with the Ministry of Defence remains unclear.
If the deals are finalized, TalkTalk's owners will need to write off approximately £1 billion in debt.
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