TalkTalk Break-up announced.

[Mini3]

Could i ask what this means to the 3.2 million customers that this will effect,  are those of us still in contract going to be allowed out of them I for one want to choose which ISP I move to i don't want to be forced to go with the highest bidder!

Sky news  today -  (20 September)

TalkTalk Group has picked advisers to spearhead a break-up that will lead to the sale of one of Britain's biggest broadband providers.

Sky News has learnt that PJT Partners, the investment bank, is being lined up to handle a strategic review aimed at assessing the optimal timing for a disposal of TalkTalk's remaining businesses.

PJT's appointment is expected to be finalised shortly, City sources said this weekend.

TalkTalk Group picks bankers to spearhead break-up | Money News | Sky News

[Grumpyolduser]

Apart from the fact all contenders must not give details what is happening - and Talktalk isn't a money making machine currently - I feel the decision will be some time off. What we do know is PJT Partners are beavering away in the background trying to get the best possible deal.

If the retail section was sold off or just transferred due to the alleged outstanding debt (as widely reported in the press) to someone who is NOT currently in the domestic broadband business it would be fairly straightforward.

However if the suitor were to be in the same business, currently as a competitor, there could well be government interference as the combination could lead to a monopoly/near monopoly situation. This would undoubtedly interest OFCOM.

There has been a considerable increase in advertising by other broadband companies offering generous compensation for early leaving fees.

Things don't look too good and it could be insolvency may be a real alternative. 

[Philile-TT]

Thank you @fr8ys 

[fr8ys]

@Weevie a topic of this nature should go in the lounge not a support board.

Also, you nor any customer, will Ever be told of any changes in a company structure or sale as it is commercially sensitive and would be a breach of confidentiality and amount to insider trading by affecting share prices and is therefore illegal.

No-one can answer your queries and as such it is up to you to decide on any action you wish to make.

[Philile-TT]

Hi @Weevie, please start your own thread as each case is considered unique and it is easier for support to be given to one person per thread and also less confusing.
To start your thread, click the Browse button, then Help with Your Service and select the appropriate category. You will then see a Blue Button "Start A Topic" Please also note that you should only post back on that thread and not start another on the same topic as multiple posts cause delay to you and others seeking help.

Thank you

[Weevie]

I still have not heard from anyone about this takeover - is it happening / when ?

Is there any downside to staying with TT ?

How about upgrading to FF ?

[Grumpyolduser]

The monthly charge stayed the same but I assume I had been moved to UW from TT's general e-mail. 

Had my contract been changed without my consent I would have reported TT to OFCOM for "slamming".

During the period whilst I was waiting for my final bill TT (now paid and Direct Debit cancelled)were offering new deals on My Account, or was it really UW ?

I used Openreach which appears to be the criterion for selecting those to be culled - a friend on another carrier with the same contract has not been affected.

[ferguson]

You still haven't said whether you were required to pay any different amount when your service was moved?

[Grumpyolduser]

The Insolvency Act applies to firms which are insolvent or LIKELY to become insolvent. 

Please don't keep parroting Talktalk are allowed to transfer customers without their consent: we all know that if everything remains the same that's legally fine.

As Ferguson so rightly says OFCOM have no ability to appoint a broadband provider of last resort.

I have no interest now in whether Talktalk becomes insolvent but if I was to look at their financial position earlier this year they had

pre-tax losses surged from £153m to £465m in the year to 28 February, 2025.

They also confirm TalkTalk lost around 420,000 broadband customers in the year, a figure which was widely reported in May citing the unpublished accounts.(source City AM)

Bolstering their finances was done by taking huge loans. Unfortunately 500 staff have paid the price.

[ferguson]

I think you are probably right, if the worse comes to the worst. Although TalkTalk are far from that position just now. Technically, Ofcom do not have the power to appoint a supplier of last resort as do Ofgem. Perhaps that is a gap in the regulatory framework that needs fixing, especially given the number of alt net suppliers which have sprung up in recent years. All far more vulnerable than TalkTalk I would imagine. 

[fr8ys]

TalkTalk are not insolvent. The insolvency act applies to insolvent companies in the naiin and provides a framework for others.

They have bolstered their finances to keep a solvent margin and divesting is part of their long term strategy to maintain their trading position in the market.

TalkTalk are able to transfer customers to another company, just as Shell divested its customers to TalkTalk. All legal and above board providing the contract terms are maintained and this includes the speeds etc. or bettering them. When customers on Shells 100mbs contract were moved to TalkTalk those customers were loved to the 150 product.

@Grumpyolduser you assessed the move, didn't like it and exercises your right to terminate the contract and pay the associated fee to do so. 

If the worst case scenario happened and TalkTalk did end up insolvent, ofcom would not allow services to be turned up but would seek rescue plans as happened a few years ago with the Electric Companies who failed.

[ferguson]

Was your service cost changed at the time you were moved across?

[Grumpyolduser]

Ah, reality. 

I looked into UW and didn't like the look of them and web scuttlebutt tended to be pretty damning especially about the hard sell used by their partners using Multi Level Marketing models on a commission basis. However TT transferred me very much against my will. Rather than support UW I put my money where my mouth was and paid the early leaving penalty rather than wait for my contract to expire when I would leave UW asap.

Should a company carry on trading with long term (2 year) contracts knowing or believing they are likely not to be able to honour such contracts is, to my mind, morally wrong.

I'm not a lawyer but I have reason to believe The Insolvency Act (Section 213) covers this. But TT must know the Act and I'm sure would not knowingly break the law. 

It's nothing to do with commercial confidentiality. You cannot take on more liability  if you think you're going to be unable to service said debt.

Weevie if UW increase your charges within the TT contract I'm pretty sure you can leave with no penalty fee. It's known as slamming. Seek advice from OFCOM. 

[ferguson]

And these days, if your insurance company went bust you would be protected by the FCSC.

[fr8ys]

@Weevie actually yes I did. Having worked in insurance for 40 years before retiring I always make certain, as far as I can, that it's a reputable company or has the backing of such.

I'm old enough to remember a few motor insurers going down the pan and the hassles my dad and uncle had in getting cover and the cost as they lost that years premium to the bankrupt company.

It's probably for that reason that I keep my eye on financial pages too.

[Weevie]

@fr8ys 

I hear what you saying but how would someone know to check up the ins and outs of a company when something like this happens ?

For example - did you check on your motor insurance company before you last took out an insurance policy ?

No ?

Who's to say that they had not got closure plans ?

[fr8ys]

@Weevie don't worry. You will be told if you are due to be transferred, and any transfer will be on the same basis as your existing contract. If not you then have a reason to leave.

Also at any renewal, if they offer you terms you don't like you are free to leave.

Businesses do not give out any commercially sensitive information ahead of time. They can't legally, and why fuel speculation.

If you are worried about any company you deal with you should look into them before signing up. If you had done, as I've mentioned in a previous post, you would have found plenty of press speculation, not from TalkTalk, about debt and takeover talks.

Would you expect your gas, electric, water company etc to inform you of such information? Of course not, so why expect TalkTalk to do so. And if you do then in a business world that is a totally unrealistic expectation.

This may seem a harsh reply, but it is reality.

[Weevie]

@Grumpyolduser 

I have received nothing and heard nothing from anybody regarding the take over.....

No "notice of transfer" no nothing - if they are going to transfer my account - I wish that they would go ahead and get it over with...

I only took out a new contract - in May - they could have warned me then - I would not have agreed to another 18 months !

I am disabled and rely 100% on a reliable internet connection - so if Utility Warehouse put this at risk - I will not be happy

Just looked up Utility Warehouse call charges (I need a phone line with fibre) and they charge a ridiculous £19 line rental as well as £13 unlimited call charges) - I pay just £7 all in for unlimited calls boost to TT.... so what is this additional £19 for ?

[Grumpyolduser]

Like many other Talktalk customers I had no desire to be transferred to Utility Warehouse - Martin Lewis's reviews do not brim over with praise.

I received my notice of transfer on 17th. July informing me I'd been transferred on 30th. June.  I've heard nothing from UW nearly two months after being transferred. This looked like "slamming" to me being transferred against my will. Ofcom's reply to my query was very quick. IF the transfer allows your contract conditions to be unaltered from those with your previous supplier  THEN  it isn't "slamming". So no legal right to bail out without a penalty fee. 

I've posted before about my fears as TT amalgamate software with UW, basically implement first then wait for users to complete the testing. They still deny the whining on my Panasonic answering device isn't their problem: funny that it disappeared with Virgin.

Personally I think the man on the top deck of the Clapham Omnibus would have thought TT/UW would have allowed customers to transfer out without charge.

That's why I'm now with Virgin.

[Weevie]

I have been a TT customer for more years than you can shake a stick at - from before TT existed - it was 2001 when I joined OPAL and stayed through CARPHONE WAREHOUSE ownership - I moved through TISCALI and spent a time with TALKTALK BUSINESS or NILDRAM as it then was - I acquired a GOTADSL email address which I have used for over 23 years and never knew that TT were in financial distress....

I took out another 24 month contract with TT in May - and don't know what the implications of this change will mean for me ?????????

[Mini3]

"Good morning, this post has been reviewed and will not be removed. I do agree with the Community Stars that this does not sit in the 'Help with your Service' area but it's fine to stay in this one2

Well it may have helped some poor people not tie themselves into a 18 month contract with a company about to go out of business if it was left where it was it serves no purpose here.

Good luck finding a new job!