TalkTalk Group has begun contacting potential buyers as part of a process to sell parts of its business, including its consumer broadband operations and its wholesale and network division, PlatformX Communications (PXC). (Sky News)
The privately owned telecoms group, which provides landline and broadband services to approximately 1.7 million customers in the UK, has started discussions with interested parties in recent days. The outreach follows the appointment of financial advisers around four months ago to oversee a sale process.
TalkTalk is among the UK’s largest broadband providers, ranking behind BT Group, Sky and Virgin Media O2.
Assets under consideration
The sale process covers TalkTalk’s consumer division as well as PXC, which houses the group’s wholesale and network activities. Within PXC, the company’s ethernet business may also be sold separately.
Industry sources have indicated that Vodafone and Virgin Media O2 are among the companies that may consider bids for parts of the group. TalkTalk declined to comment on the process.
Financial context
The move comes as TalkTalk continues efforts to address pressure on its balance sheet. In summer 2025, the company secured a £120 million capital injection, primarily from Ares Management, which is both a lender to and shareholder in the group.
This followed a £1.2 billion refinancing completed in 2024, which did not prevent bondholders from seeking further measures to strengthen the company’s financial position.
Over the past 18 months, TalkTalk has implemented extensive cost-cutting measures, including hundreds of job reductions, and raised £50 million through the sale of non-core customers to Utility Warehouse in transactions completed in March and June.
Ownership and market backdrop
TalkTalk was taken private from the London Stock Exchange in a £1.1 billion transaction led by Toscafund and Penta Capital. The group was founded by Sir Charles Dunstone, who remains executive chairman and a shareholder.
The company’s business-focused operations are separately owned by TalkTalk’s shareholders following a transaction completed in 2023. TalkTalk is currently led by Chief Executive James Smith.
The sale process takes place amid broader financial challenges across the UK broadband sector, where a number of alternative network providers are facing rising costs and subdued customer take-up.