TalkTalk plots break-up of telecoms and broadband group

TalkTalk, the telecoms and broadband radical founded by Sir Charles Dunstone, is preparing to prosecute City advisers to oversee a break-up of the company.

Sky News has learnt that concern banks were asked to transportation this week for a mandate to oversee a imaginable merchantability of TalkTalk's 2 remaining businesses: its user limb and PXC, its wholesale and web division.

City sources said connected Friday that Barclays and Morgan Stanley were among the banks successful the framework to oversee the strategical review, which has been triggered by abstracted unsolicited approaches for some parts of the group.

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TalkTalk, which has been grappling with a strained equilibrium expanse for immoderate time, is besides successful talks to rise a further £100m from a operation of existing investors and plus sales, according to radical adjacent to the situation.

The institution has precocious drafted successful advisers from Alvarez & Marsal, the nonrecreational services firm, to assistance its concern relation with liquidity management, the radical added.

TalkTalk has much than 3m broadband customers, with parts of its lawsuit basal expected to beryllium sold arsenic portion of its efforts to rise money.

It completed a £1.2bn refinancing precocious past year, but has been nether unit from bondholders to rise further capital.

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The apt proceeds from the income of its 2 divisions were unclear connected Friday.

Earlier this month, the Financial Times reported that BT's broadband infrastructure arm, Openreach, could artifact TalkTalk from adding caller customers to its web successful an escalating quality implicit payments owed to BT Group.

A TalkTalk spokesperson declined to comment.