Surprise package Shell eyes Post Office broadband deal - EpicNews

Shell, the FTSE-100 oil behemoth, is among the many bidders vying to achieve management of the Post Office’s telecoms arm in a deal that might remodel the dimensions of its broadband buyer base.

Sky News has learnt that Shell, which took management of the retail vitality and broadband provider First Utility in 2018, is one among three remaining bidders for the Post Office enterprise.

Sky, the rapid dad or mum firm of Sky News, and TalkTalk Telecom Group, which is within the technique of agreeing a takeover led by one among its largest shareholders, are additionally mentioned to be competing within the public sale.

The Post Office’s telecoms arm has roughly 500,000 prospects, and is predicted to command a price-tag of near £100m.

Sources near the method insisted on Thursday that Nick Read, the Post Office chief govt, wouldn’t promote the division except it secured a beautiful value for it.

The bid from Shell Energy Retail – the brand new identify of First Utility – provides an sudden presence to the public sale.

Shell has roughly 130,000 UK broadband prospects, in addition to 870,000 home vitality accounts, by advantage of the 2018 takeover deal.

More from Business

It additionally offers a variety of good dwelling companies equivalent to electrical car charging, and seems to have set its sights on turning into a big participant within the residential utilities market.

The Post Office, which is conducting the telecoms public sale by PJT Partners, can also be exploring choices for its insurance coverage enterprise.

Shell, the Post Office, Sky and TalkTalk declined to remark.