BT strikes deal to rescue broadband firm TalkTalk; euro slides amid France debt burden fears – business live
TalkTalk’s wholesale and consumer arms will be sold to BT on a debt-free basis Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. BT Group has struck a deal to buy TalkTalk out of administration, after reaching an agreement with its largest creditor. This is a genuinely unprecedented situation, where millions of citizens and businesses were…
BT has sealed a deal to acquire TalkTalk, rescuing the broadband firm from administration. The transaction involves the sale of TalkTalk's wholesale and consumer arms to BT on a debt-free basis, a truly unprecedented scenario that prevented millions of citizens and businesses from facing collapse. BT, with its extensive digital network, is the nation's lifeline, stepping up to keep millions of customers connected and supported.
The immediate priority is to stabilize the business and provide a safety net for the households and businesses relying on TalkTalk. Upon regulatory clearance, TalkTalk customers will gain access to BT's superior network and a full suite of market-leading products and services. Over time, this deal will generate value for all stakeholders – customers, colleagues, the nation, and BT's owners. Current business and financial market developments will be continuously monitored and reported.
Written by urgent.news from Guardian Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
