Virgin Media O2 in talks to buy £3bn TalkTalk

Virgin Media O2 (VMO2) is in discussions to potentially acquire Salford-based TalkTalk Telecom Group, according to a Bloomberg report.

VMO2, brought together in a 2021 merger by Liberty Global Plc and Telefonica SA, has held exploratory discussions with TalkTalk, but Bloomberg reported it is possible that no deal is agreed.

The talks could value TalkTalk at up to £3 billion including debt.

TalkTalk has over four million customers, according to its last annual report.

TalkTalk was taken private by investment fund Toscafund Asset Management LLP in 2020 for about £2 billion, including debt.

Lazard is advising Talktalk while LionTree is advising Virgin Media O2, according to reports.

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Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.