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VodafoneThree and Virgin Media O2 are among those expected to bid, according to reports
According to a report from Sky News, TalkTalk has begun negotiations for the sale its consumer ISP unit and wholesale platform business (PXC).
Sources suggest that potential buyers could include VodafoneThree and Virgin Media O2 (VMO2), though this remains unconfirmed.
TalkTalk appointed bankers to oversee the sale process in August.
TalkTalk was split into three businesses – a consumer ISP, PXC, and an enterprise business – as part of a strategic demerger in 2023.
The enterprise unit was quickly sold to shareholders for £95 million later that year. The larger and more valuable wholesale and consumer units have been more difficult to offload.
The most oft-quoted suitor is VMO2, a company that has explored the acquisition of TalkTalk for many years. The company was most notably linked to a takeover bid in 2022, with reports at the time attaching a £3 billion price tag to the deal. However, market dynamics and regulatory concerns scuppered the deal before the end of the year.
Since then, VMO2 has continued to show interest in TalkTalk post-break up, particularly in its consumer unit in 2024.
Despite a steady decline, TalkTalk’s consumer business still includes about 3.2 million broadband customers, as of the end of the 2025 financial year.
TalkTalk’s wholesale unit has also generated considerable interest, with Australian banking giant Macquarie offering £450 million for a 40% stake in the company in 2024. This deal, however, also quickly collapsed the same year.
Regardless of who the potential suitors are, TalkTalk will be keen to progress quickly. The company is facing a significant decline across both business units and, despite emergency refinancing in 2024, remains drowning in over £2.6 billion in debt.
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