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TalkTalk Buys OneTel
The Carphone Warehouse will pay £132.0m cash. The acquisition will complete on 31 December 2005. Centrica, current owners of Onetel, will recruit a certain number of customers for Carphone Warehouse through its British Gas operations over the next three years.
In addition, The Carphone Warehouse (TalkTalk) has agreed to pay Centrica up to a further £22.2m over the next three years if higher British Gas customer recruitment targets are met for TalkTalk.
About Onetel
Onetel is one of the largest alternative telecoms providers in the UK, providing landline calls, line rental, dial-up, broadband and mobile services to
residential and small business customers. Onetel currently has the following approximate residential customer numbers:
1.1m carrier pre-select customers ("CPS");
250,000 indirect access
60,000 broadband
40,000 mobile customers
.
Onetel also has 50,000 business CPS customers.
TalkTalk
TalkTalk started in 2003, and has been the fastest
growing CPS service provider in the UK, It now has over 1.06m customers.
TalkTalk stated goal is be the number one alternative residential telecoms provider
in the UK market.
Onetel will add to talktalk's aim of being the main alternative to BT. This moves Talktalk one step further towards that objective.
OneTel to be rebranded Talktalk
TalkTalk confirmed that they will re brand Onetel TalkTalk as quickly as possible.
TalkTalk buy Tele2
TalkTalk said they had bought Tele2's UK business at the same time as the Onetel acquistion was released.
TalkTalk for free
The acquistions give TalkTalk a base of approximately 2.4m TalkTalk customers all who can
call each others landline for free.
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