en.Wedoany.com Reported - UK broadband company TalkTalk Group has received acquisition bids for its wholesale division PlatformX Communications (PXC), which is reportedly valued at "hundreds of millions of pounds." Bidders include Africa-focused Telecel and private equity firm Epiris, which has teamed up with PXC Executive Chairman Tom O'Hagan.

Tom O'Hagan recently helped acquire business service provider Entanet from full-fiber operator CityFibre and has ambitious plans for the UK business connectivity market. Acquiring PXC would be a key part of his strategy. After splitting its business into TalkTalk Consumer, PXC (wholesale), and TalkTalk Business Direct, the TalkTalk Group has been seeking to sell PXC.

TalkTalk Group's latest annual financial report shows a statutory pre-tax loss of £465 million for the fiscal year ending February 28, 2025, up from £153 million the previous year. Total net debt (excluding leases) stood at £1.2 billion, rising to £1.96 billion when leases are included. According to Bloomberg sources, negotiations are ongoing, and it remains uncertain whether a deal will ultimately be reached.

Earlier reports indicated that broadband and mobile operator VodafoneThree had made an acquisition offer for TalkTalk's consumer business. A VodafoneThree spokesperson said the company is satisfied with its current "organic strategy" for fixed broadband growth but will "always closely monitor market and industry developments." TalkTalk declined to comment on both reports, which is standard practice in such situations.

In September 2024, TalkTalk Group secured a refinancing package of approximately £400 million, extending its debt maturity to September 2027 and avoiding an immediate default risk. It later reached a £120 million financing agreement to address ongoing financial pressures. The provider has also undergone further layoffs recently and refreshed its consumer brand to address a shrinking broadband customer base. However, there may be light at the end of the long tunnel.