(Bloomberg) — The owners of TalkTalk Telecom Group Ltd are exploring strategic options, including a potential sale of the business, according to people familiar with the matter.
While the company has held talks with potential buyers, no formal offers have been lodged for TalkTalk, one of the people said. Lazard Ltd., the long-time adviser to TalkTalk, is working with the company, the people said, asking not to be identified because the talks are private.
Salford, England-based TalkTalk is a low-cost internet service provider with over 4 million customers, according to its last annual report. It was taken private by investment fund Toscafund Asset Management LLP in 2020 for about 2 billion pounds ($2.6 billion), including debt.
U.S. telecom giant Comcast Corp, which owns pay-TV and broadband company Sky Ltd., and London-based phone group Vodafone Group Plc, are mulling approaches, Sky News reported Friday. TalkTalk founder and co-owner Charles Dunstone believes the business is now worth at least 3 billion pounds, the report said.
Representatives for TalkTalk, Vodafone and Toscafund declined to comment, while representatives for Lazard and Comcast didn’t immediately respond to requests for comment.
Vodafone has been talking to parties to consolidate its presence in key European markets. In February, Vodafone Chief Executive Officer Nick Read said he was on the lookout for deals in the U.K., as well as Spain, Italy and Portugal. Since then he’s missed out on a deal in Spain and rejected an approach in Italy.
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