BT takes over TalkTalk and its 2.5 million customers out of administration
BT Group has acquired TalkTalk’s consumer and wholesale businesses out of administration. They have 1.5 million retail customers and 1 million wholesale customers. BT announced the deal on Monday. It said a prolonged sale process for those operations had been unsuccessful.
BT bought TalkTalk Telecommunications Limited and PlatformX Communications Limited, the wholesale business, on a debt-free basis. It estimates the total cash impact in its 2027 financial year at about £400M. That figure covers the consideration, transaction and administration costs, and working capital impacts. It also includes a trading loss of about £60M. Another £100M or so would otherwise have been due to BT’s Openreach.
TalkTalk reported revenue of about £1.2bn over the last 12 months and was loss-making, BT said. TalkTalk and BT will operate separately and continue to compete while a regulatory review takes place.
“This is a genuinely unprecedented situation, where millions of citizens and businesses...
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