Virgin Media O2 makes opening offer for TalkTalk
July 18, 2022
Virgin Media O2 has made an offer to acquire telco rival TalkTalk that is reportedly in the region of £3 billion (€3.54bn).
Virgin Media O2, which is jointly owned by Telefonica and Liberty Global, is said to have submitted a bid for Salford-based TalkTalk in recent weeks to test the waters for a potential full acquisition.
Discussions between the two sides are at an early stage and are being held on a non-exclusive basis.
The development comes after it emerged in April that TalkTalk had received a number of tentative approaches from industry rivals including Vodafone and Sky.
TalkTalk has some 4.2 million customers in total, and 2.4 million fibre connections across the UK. Virgin Media O2 has 6 million broadband, pay-TV and mobile users, while O2 has 34 million mobile customers