TalkTalk’s wholesale and consumer arms will be sold to BT on a debt-free basis
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
BT Group has struck a deal to buy TalkTalk out of administration, after reaching an agreement with its largest creditor.
This is a genuinely unprecedented situation, where millions of citizens and businesses were at risk if TalkTalk had collapsed. BT is the digital backbone of the country, with a presence in every postcode. We have been connecting the nation for generations, stepping up in the moments that matter, and BT acquiring TalkTalk is now the only viable option to keep millions of customers connected and supported.
Our immediate priority is to stabilise the business and provide a safety net for the households and businesses who rely on TalkTalk. Once the regulatory process has been concluded, TalkTalk’s customers will benefit from access to the UK’s best network, and the full range of market-leading products and services that BT offers. And, over a period of time, the transaction will create value for all our stakeholders – customers, colleagues, the country, and our owners.
9am BST: Eurozone Services and Composite PMIs final for September
9.30am BST: UK Services PMI final for September
3pm BST: US ISM Services PMI for September
