Shell’s home energy and broadband division has emerged as a surprise contender for Post Office’s telecoms business.
Sky News says the oil and gas giant is competing with Sky and TalkTalk – two of the UK’s biggest broadband providers – in a bidding war that will be welcomed by Post Office, which has half a million landline and broadband customers.
It is thought any deal could be worth £100 million and that Post Office could retain the division should it not receive a satisfactory offer.
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Post Office broadband
While Sky and TalkTalk would welcome the opportunity to expand their customer bases, a takeover would have far greater implications for Shell, which entered the UK market through the 2018 acquisition of First Utility.
Shell has since rebranded the retail division as ‘Shell Energy’ and is intent on becoming a major player in home utilities. It is thought the company has around 800,000 energy customers but has steadily increased its broadband subscriber base to more than 100,000 through cross-selling activities. The addition of Post Office’s customers would be transformative for the business.
TalkTalk, which is currently the subject of takeover speculation itself, declined to comment to TechRadar Pro, as did Sky and Post Office. Shell Energy has also been contacted.
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Via Sky News
