BT saves 1.5 million TalkTalk customers from potential chaos – agrees to rescue UK broadband firm
BT is acquiring TalkTalk with a reported £400 million rescue package
by Rik Henderson · T3
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Quick Summary
BT is buying TalkTalk in a rescue package worth up to £400 million – this will help secure broadband services for 1.5 million UK customers.
The deal still needs regulatory approval, but the alternative is potential liquidation of the supplier.
BT has announced that it is acquiring UK broadband supplier TalkTalk with a rescue package worth a reported £400 million.
It has also assured TalkTalk's 1.5 million home and business customers that their internet services should not be impacted as the sale goes through. They might be switched to BT services in future, but current connectivity should remain in the interim.
The deal was unveiled earlier today after it was revealed that TalkTalk was on the brink of liquidation. The sale still needs to be reviewed by UK regulator, the Competition and Markets Authority (CMA), but considering the alternative is job losses and a collapse of TalkTalk as it currently stands, experts believe it will be approved.
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1.5 million UK customers to remain connected
"TalkTalk's 1.5 million customers will want to know what this morning's news means for them. The short answer is: nothing changes today," advised Ernest Doku of Uswitch.
"BT has said TalkTalk will keep operating separately while regulators review the deal, so your broadband and landline carry on as normal, and there is nothing you need to do right now."
Doku also suggested that you should continue to pay for your TalkTalk connection while the process is ongoing: "BT should set out quickly and plainly what this means for contracts, prices and service in the future, so nobody is left guessing. In the meantime, keep paying as normal and leave your direct debit running."
The TalkTalk brand will continue for now, but it may be absorbed by BT (or EE) in future. As for services like TalkTalk TV, they are almost certain to also be replaced by BT's equivalents.
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Indeed, BT is set to launch a new version of its own TV streaming service on 15 October which could be offered to TalkTalk's existing customers as an alternative.