Carphone Warehouse expands TalkTalk with OneTel deal
LONDON – Carphone Warehouse has agreed to buy OneTel from Centrica in a deal worth as much as £154.2m, depending on the number of customers Centrica recruits for Carphone Warehouse over the next three years.
At the same time, Carphone Warehouse has completed the acquisition of the UK and Irish operations of Danish fixed line company Tele2 for £8.5m.
Carphone Warehouse will boost customer numbers at its fixed line operation TalkTalk by rebranding OneTel and Tele2's operations as TalkTalk, supporting a drive into the broadband market in 2006.
It hopes to end up with 2.4m TalkTalk customers by adding 1.1m from OneTel and 188,000 from Tele2 to its current base of 1.1m.
Further customers will be recruited through Centrica's British Gas operation as part of the deal.
Centrica will be paid now £132m with £27m of that figure being conditional on Centrica recruiting a certain number of customers over the next three years.
In addition, if Centrica meets an undisclosed higher target, it stands to receive a further £22.2m making the total of £154.2m.
The OneTel transaction is set to complete on December 31.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum.
Latest jobs Jobs web feed
- Business Development Executive Bullfrog Digital LTD Up to £30k + Commission and benifits, Shoreditch
- Head of Strategy, Insight & External Relations London & Partners COMPETITIVE + PRP + BENEFITS, London Bridge
- Senior Account Manager Hot Cow Between £32,000 - £35,000 with discretionary bonuses., Near Chiswick Business Park, a fun and vibrant location to work with events, a lake and bars.
- Project Manager - Integrated / Digital - Superb London Agency Fill Recruitment Ltd £40k - £50k plus bonus and superb benefits!, Central London
- Retail Marketing Manager EMEA Callaway Golf Europe Ltd circa £50,000 pa plus benefits, based in Chessington, Surrey
- Client Account Manager Content is King c. £25k per annum dependent on experience, SW1