Source: Bloomberg
Telecel Group
is among bidders competing to acquire TalkTalk Telecom Group’s wholesale
telecommunications business, people familiar with the matter said.
Africa-focused
Telecel has made an offer for the PlatformX Communications unit, according to
the people, who asked not to be identified discussing confidential information.
Struggling UK
broadband provider TalkTalk has been weighing options for its consumer and
business-to-business operations following the completion of a major financial
restructuring.
Private equity
firm Epiris has teamed up with PXC executive chairman Tom O’Hagan to bid for
PXC, which has also drawn interest from Octopus Investments, the people said.
Offers have valued PXC in the hundreds of millions of pounds, they said.
Meanwhile
Vodafone Group Plc has separately bid for the consumer unit, according to
reports.
Deliberations
are ongoing and may not end in a transaction, the people said. Representatives
for Telecel and TalkTalk declined to comment.
TalkTalk is
among the telecom companies that have been grappling with the rapid rise of new
entrants offering high-speed internet in the UK in recent years. It chose to
separate its wholesale and consumer platforms into standalone entities in 2024
in a bid to raise new funds.
TechReview Africa reached out to Telecel Group for comments on its reported bid and the company's strategic intentions regarding the potential acquistion. However, efforts to obtain a response have so far proved futile at the time of publication. We will continue to monitor developments surrounding
the potential acquisition and provide updates as more information becomes
available.
