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BT buys TalkTalk in 400 million rescue deal, saving 900 jobs
The UK culture secretary, Lisa Nandy, stepped in after the acquisition was confirmed, using a public interest intervention notice.
BT has agreed to buy broadband provider TalkTalk in a rescue deal valued at £400m, according to the Guardian Business.
The transaction is designed to save 900 jobs, after BT’s hurried weekend acquisition was confirmed through a pre-pack administration, the outlet reported.
Virgin Media O2 criticized the deal as a “stitch-up” despite being framed as being in the public interest.
The Guardian Business said UK culture secretary Lisa Nandy intervened on Monday by invoking a public interest intervention notice.
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