National security concerns as broadband giant TalkTalk 'could go into administration within days'
Security officials are warning that the Ministry of Defence could be impacted if the telecom provider goes under
National security concerns have been raised after it emerged that broadband giant TalkTalk could go into administration 'within days'.
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Security fears have grown in recent days amid suggestions its demise could lead to weakened national defences, after it emerged the Ministry of Defence (MoD) could be impacted by its collapse.
The firm, used by households and businesses across the UK, could go into administration as early as next week.
Security officials charged with securing Britain’s most critical infrastructure are now in contact with senior civil servants and telecoms regulators over the impacts of a potential collapse.
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The aim is to ensure TalkTalk can continue to operate in the event the firm should fall into administration.
The potential security concerns come at a time of heightened international tensions - notably in relation to Russian hybrid warfare.
On Thursday, it was reported that negotiations over the sale of two arms of the business were still ongoing.
An initial cut-price offer tabled by Opus Broadband for the consumer arm of the business was said to be in the region of £100m - under half what the arm was estimated to be worth.
It comes amid suggstions the offer to save the telecoms giant would ultimately increase the losses facing investors at the company.
The Telegraph revealed that the talks to sell its wholesale network, PXC, to a firm Octopus Inheritance Tax Service, ultimately faltered, with Investments initially reported to be around £300m.
Discussions about a deal to sell its wholesale network, PXC, to a company backed by Octopus Inheritance Tax Service, have already stalled.
It ultimately left TalkTalk's team attempting to stitch together a deal with private equity firm Epiris.
In response to the speculation, a TalkTalk spokesperson told LBC: "TalkTalk Group (the Company) is in advanced discussions regarding potential disposals of its PXC and TalkTalk Consumer businesses.
"The Company is now in the final stages of its sales process for the businesses and expects to conclude both transactions imminently.
"The Company will update stakeholders with further news in due course."