Business
CROSS-SPECTRUMBROAD COVERAGE
BT to acquire struggling broadband rival TalkTalk in rescue takeover
BT has agreed to buy TalkTalk, averting the latter's imminent collapse and pending approval from the UK competition regulator.
The UK's leading broadband provider BT will purchase TalkTalk, which has been teetering on the edge of administration due to heavy debt. The transaction covers TalkTalk's 1.5 million retail and one million wholesale customers. Approval from the competition regulator is required before the deal can close. BT chief executive Alison Kirkby said the acquisition will safeguard households and businesses that depend on TalkTalk's services.
How this was covered
- Coverage peaked at 9 outlets in a single hour
Why it matters
The takeover will preserve broadband service for millions of UK households and businesses while reshaping the national telecom market.
In this story
broadbandacquisitionrescue dealretail customerswholesale customerscompetition regulatordebtmarket consolidation
