The private equity firm currently pursuing London-listed Gamma Communications has entered formal negotiations to acquire PXC, the wholesale division of the struggling TalkTalk Telecom Group.
Epiris is engaged in detailed discussions to purchase PXC following the breakdown of exclusive talks with Octopus Investments, according to reports.
TalkTalk is working against a month-end deadline to secure buyers for both its wholesale and consumer operations. This week, it was revealed that Opus <a s primary telecommunications and broadband providers.
In a statement released Friday morning, TalkTalk confirmed that it is in advanced negotiations regarding the potential disposals.
“The company is now in the final stages of its sales process for the <a it said.
TalkTalk is under pressure to finalize these sales by the end of the month to meet payment obligations to creditors, the largest of which is BT Group’s Openreach division.
Industry analysts suggest that it remains a possibility for BT to intervene and take control of PXC.
Epiris is presently involved in a takeover bid for Gamma, a company listed in London that analysts believe would offer significant <a s primary lender, Ares Management, should the Opus Broadband bid be rejected.
TalkTalk founder Sir Charles Dunstone is expected to serve as chair of the retail operation if Ares assumes control.
Sir Charles established TalkTalk in 2004 with an ambitious plan to secure a major portion of the British retail telecoms market.
The Carphone Warehouse co-founder remains a substantial shareholder in TalkTalk, alongside Toscafund Asset Management, with whom he took the company private in 2021.
The business was originally floated on the London Stock Exchange in 2010 following its demerger from Carphone Warehouse.
Its delisting in 2021 occurred at a valuation of approximately £2bn, a figure that included debt.
The company has faced prolonged difficulties since that time, with cashflow challenges—compounded by a steady decline in its retail customer base—resulting in a significant reduction in the group’s valuation over the past five years.
