BT has agreed to acquire TalkTalk and its wholesale business PlatformX Communications out of administration for £400m on a debt-free basis, according to the company. The deal will preserve 900 jobs.
TalkTalk serves 1.5m customers. The acquisition includes both the retail broadband business and PlatformX Communications, its wholesale arm.
Virgin Media O2 has complained of a "stitch-up" over the rival provider, The Guardian reports. The complaint suggests rival operators view the deal as unfairly structured.
The source material does not detail TalkTalk's path to administration, the timeline of negotiations, regulatory approval requirements, integration plans, or how the £400m price was calculated. It does not specify whether customer service, pricing or service quality will change, or whether other bidders competed for the business. The material does not confirm whether the 900 jobs cover all TalkTalk operations or represent redundancies avoided.