BT buys TalkTalk out of administration to keep 2.5M customers connected

Former state-owned telco monopoly BT Group has bought TalkTalk's consumer and wholesale businesses out of administration, rescuing services used by 2.5 million customers. BT says it acquired TalkTalk Telecommunications Limited and PlatformX Communications Limited on a debt-free basis. It expects a total cash impact of approximately £400 million in its current financial year, including the acquisition consideration and other costs. BT said it stepped in after a prolonged sale process failed to find a buyer for the consumer and wholesale operations. TalkTalk reported approximately £1.2 billion in revenue over the past 12 months but was loss-making. Separately, TalkTalk Business and UK technology services biz ARO announced plans to merge in...

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