The Post Office is in talks to offload its telecoms arm, Sky News reports. City sources have indicated that investment bank PJT Partners has been hired to run the auction, which is expected to command a price tag of more than GBP100 million (USD127.9 million). Sky notes that the sale process was initiated following a number of unsolicited expressions of interest. The report adds that a sale will not proceed unless a satisfactory price is obtained.
TeleGeography notes that the Post Office currently boasts around 400,000 broadband customers, making it one of the ten largest ISPs in the UK. Previously, the Post Office has taken steps to grow its business via strategic takeovers. On 1 August 2017 it completed the acquisition of Fuel Broadband from New Call Telecom, adding 60,000 new customers to its overall user base.