BT to buy broadband supplier TalkTalk in £400m rescue deal, saving 900 jobs

Virgin Media O2 complains of ‘stitch-up’ over rival provider, which has 1.5m customers

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BT has agreed to buy the broadband supplier TalkTalk out of administration in a £400m rescue deal that will save 900 jobs.

The company said it had struck a deal to acquire TalkTalk and its wholesale business PlatformX Communications (PXC) on a debt-free basis, in a move that is expected to cost it £400m.