BT Agrees £400m Rescue Takeover Of Debt-Hit Broadband Rival TalkTalk

BT completes TalkTalk takeover as the Government orders a CMA inquiry. Find out what it means for customers (Credit: Test My Internet Speed/Flickr)

BT has completed its purchase of TalkTalk, ensuring that around 2.5 million broadband customers keep their connection. Yet the deal is already under scrutiny, with the government asking competition regulators to investigate on an accelerated timetable.

The telecoms group bought TalkTalk Telecommunications and PlatformX Communications out of administration. TalkTalk had been weighed down by roughly £1.5 billion of debt when it collapsed into insolvency. BT says stepping in guarantees that households and businesses will not face any break in service.