Octopus Investments in exclusive talks to acquire TalkTalk's PlatformX Communications wholesale unit
Type: Sale · Technology: Telecom · Country: United Kingdom · Announced: 2026-08-11
UK broadband provider TalkTalk is nearing exclusive talks with Octopus Investments to sell its wholesale network unit PlatformX Communications (PXC), which could lead to a full break-up of the company. Octopus Investments, which manages UK infrastructure investor Fern Trading, is finalizing financing for the deal after reportedly seeing off interest from private equity group Epiris. The transaction follows TalkTalk's previous unsuccessful attempts to sell its wholesale division, including a failed 2024 approach from Macquarie. TalkTalk was taken private by Toscafund Asset Management in 2021 for £1.1 billion ($1.49 billion) and had earlier announced plans to split into three standalone units. The company has already sold its TalkTalk Business Direct unit to TFP Telecoms Limited and recently divested 120,000 broadband customers to Rise Fibre.
Counterparties
- Octopus Investments (Buyer)
- Fern Trading (Parent Company)
- PlatformX Communications (PXC) (Seller)
- TalkTalk (Seller)
- Toscafund Asset Management (Parent Company)
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