BT Group has agreed a takeover rescue deal to buy TalkTalk’s consumer and wholesale divisions out of administration, safeguarding roughly 900 jobs alongside telecommunications supply for millions of subscribers and vital public services.
The telecoms giant stated that it stepped in to prevent the collapse of TalkTalk and its PlatformX Communications (PXC) unit during a "genuinely unprecedented situation". The move follows urgent intervention by the Government to pave the way for a sale to BT after TalkTalk’s own attempts to find a buyer for its two businesses failed.
