Broadband ISP Group TalkTalk Starts Talk Talking to Potential UK Bidders
A new report has this afternoon claimed that the debt strained TalkTalk Group, which last year reportedly appointed advisers PJT Partners to help sell off its remaining operations (here), have now allegedly begun talks with several prospective bidders for their various divisions.
The group has certainly had an eventful few years, which was headlined by the demerger of their businesses (Talk Talk Consumer, PXC [Wholesale] and Talk Talk Business Direct) and last year’s signing of a crucial £400m refinancing package, which enabled them to avoid a default on their debts until 2027 (here, here). This was later followed up by a £120m funding deal to help tackle ongoing financial pressures (here).
More recently they’ve also launched a major brand refresh and advertising push for their consumer broadband ISP business (here). At the same time the group is still doing everything it can to cut costs and tackle their underlying debt problem, including the possible disposal (sale) of its remaining businesses and more job cuts (here).
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According to Sky News, the embattled group has now moved to the next phase by allegedly opening tentative discussions with potential buyers for their various divisions. The talks are expected to attract interest from a number of suitors, such as Vodafone and Virgin Media (O2), although it’s too early to know if anybody will place a serious bid.
At present, the likes of Vodafone and Sky Broadband are probably better fits for TalkTalk’s consumer base than BT or Virgin Media, partly due to their packages, pricing and network selection being more closely aligned; at least in some respects. But a deal with BT can probably be ruled out due to competition concerns.
In addition, it’s unclear whether Vodafone would be willing to take on the added complications of a retail consolidation, while also still being busy with their Three UK mobile merger. TalkTalk declined to comment on the Sky News report. Credits to forum member Ionide for pointing us to this development.
Mark is a professional technology writer, IT consultant and computer engineer from Dorset (England), he also founded ISPreview in 1999 and enjoys analysing the latest telecoms and broadband developments. Find me on X (Twitter), Mastodon, Facebook, BlueSky, Threads.net and Linkedin.
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Could this be the beginning of the end for TalkTalk? – or just another false dawn. Always thought the Plusnet side of BT would be a good fit, but with competition regulation, and no Digital Voice in their contracts, might just rule them out.