Key facts
- Opus Broadband has reportedly withdrawn its bid to acquire TalkTalk's consumer business.
- Ares Management is considering taking long-term ownership of TalkTalk.
- TalkTalk's founder Sir Charles Dunstone is expected to take an advisory role.
- TalkTalk reported a statutory loss before tax of £465 million for the year ended February 28, 2025.
- TalkTalk's net debt, excluding leases, reached £1.2 billion, rising to £1.96 billion with leases included.
- TalkTalk is also attempting to sell its wholesale business, PlatformX Communications, to Octopus Investments.
Opus Broadband has reportedly withdrawn its bid to acquire the retail arm of UK broadband provider TalkTalk, a move that could lead to Ares Management taking long-term ownership of the business. Ares Management, already TalkTalk's largest lender and a minority shareholder, may convert its debt into equity. This development follows TalkTalk's significant statutory loss before tax of £465 million for the year ended February 28, 2025, and a net debt of £1.2 billion (or £1.96 billion including leases).
According to Sky News, Opus Broadband's decision not to pursue a bid, estimated at around £250 million, leaves Ares Management as a potential owner. TalkTalk's founder, Sir Charles Dunstone, is expected to retain an advisory role. The company has recently received substantial debt financing from Ares, including £115 million in March 2026.
In parallel, TalkTalk is still negotiating the sale of its wholesale business, PlatformX Communications, to Octopus Investments. The success of either deal is contingent on establishing future operational relationships between the two parts of the business.