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The CEO of broadband and mobile giant Virgin Media (O2) has today published an Open Letter that it just sent to Lisa Nandy MP, Secretary of State for Culture, Media and Sport, which makes their objections to the acquisition of TalkTalk and PlatformX Communications (PXC) by BT Group quite clear – despite the fact they didn’t bid themselves.
Just to recap. BT reached a deal to acquire both TalkTalk’s consumer broadband ISP business and their PXC (PlatformX Communications) wholesale business on Monday (5th October), which occurred after TalkTalk repeatedly failed to reach a sale agreement with any of the other bidders.
BT ultimately stepped in to avoid a disorderly liquidation, which became increasingly likely after it emerged that there wasn’t even enough money left to fund the company’s administration. Under corporate law, the Directors might have had to cease TalkTalk’s operations, which would have disrupted supplies to various critical public services and vulnerable customers.