BT Group has agreed a rescue deal to buy TalkTalk's consumer and wholesale businesses out of administration, protecting telecoms services for millions of households and vital public services. The telecoms giant said it had stepped in to save TalkTalk and its PlatformX Communications (PXC) business from collapse in a “genuinely unprecedented situation” that could have impacted telecoms for 2.5 million customers.
Continuity of service protected
BT said the deal will “protect continuity of service for its 2.5 million customers, avoiding the risk of material harm to vulnerable customers and key emergency services”. TalkTalk’s customers include vulnerable households, as well as connections that support critical national infrastructure providers across health, emergency services, defence, education, transport, banking and government.
Employees to transfer to BT
Administrators at Alvarez & Marsal Europe said the sale will see all 900 employees at TalkTalk’s consumer and broadband business and PXC transfer to BT as part of the deal. TalkTalk and BT are two of the biggest broadband operators in the UK.
