TalkTalk is preparing for a major shake-up, as the telecoms group looks to bring in advisers to oversee a potential break-up of the company. According to a report by Sky News, investment banks have been asked to pitch this week for the opportunity to manage the possible sale of the group’s remaining assets, its consumer business and PXC, its wholesale fibre network division.
Barclays and Morgan Stanley are reportedly among the banks being considered to lead the strategic review. This move is part of a broader effort to address TalkTalk’s ongoing financial challenges and future direction.
The company, owned by Sir Charles Dunstone, is also believed to be in discussions to raise an additional £100 million through a mix of asset sales and investment from existing shareholders.
The latest developments come amid reports that BT has considered a potential takeover of TalkTalk, reportedly due to unpaid bills owed to BT’s Openreach division.
With financial pressures mounting, the future of TalkTalk is uncertain but a break-up now seems increasingly likely.
