TalkTalk Wholesale Arm Is Said to Draw Interest From Telecel
Telecel Group is among bidders competing to acquire TalkTalk Telecom Group’s wholesale telecommunications business, people familiar with the matter said.
Africa-focused Telecel has made an offer for the PlatformX Communications unit, according to the people, who asked not to be identified discussing confidential information.
Struggling UK broadband provider TalkTalk has been weighing options for its consumer and business-to-business operations following the completion of a major financial restructuring.
Private equity firm Epiris has teamed up with PXC executive chairman Tom O’Hagan to bid for PXC, which has also drawn interest from Octopus Investments, the people said. Offers have valued PXC in the hundreds of millions of pounds, they said.
Meanwhile Vodafone Group Plc has separately bid for the consumer unit, according to reports.
Deliberations are ongoing and may not end in a transaction, the people said. Representatives for Telecel and TalkTalk declined to comment.
TalkTalk is among the telecom companies that have been grappling with the rapid rise of new entrants offering high-speed internet in the UK in recent years. It chose to separate its wholesale and consumer platforms into standalone entities in 2024 in a bid to raise new funds.
