TalkTalk is scrambling to secure its future amid the threat of administration, closing in on deals to sell its consumer and broadband arms as it seeks to save 900 jobs. The telecoms company said on Friday it was in the final stages of sealing deals to sell its consumer business as well as its wholesale operation, PXC. It has struggled in the highly competitive telecoms market, with its customer numbers shrinking from 4 million in 2019 to about 1.5 million.
The debt-laden business is close to sealing a £100m deal to sell its consumer operation to Opus Broadband, and to sell its wholesale operation PXC to Octopus Investments for an undisclosed sum. A spokesperson for Opus said its “top priority is to ensure that every customer stays connected and that all TalkTalk employees’ roles are protected”. Octopus Investments declined to comment.
PXC works with the Ministry of Defence although the sale process is unlikely to interrupt the services it provides. It is understood that work with the MoD is through a third-party reseller, not PXC directly, and that regulations mean there is always at least one other telecoms company to prevent disruption.
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