Shell Energy, formerly First Utility, has announced that it has agreed to purchase the UK Post Office’s broadband and telephony business. In a press release confirming the development, Post Office stated that the sale has been agreed and initial contracts signed, while noting that a period of further diligence now needs to take place before completion of the deal, which is expected ‘in six weeks’. Post Office said that the sale price remains commercially confidential.
For its part, Post Office will cease selling telecommunication products both online and in its retail units with immediate effect. Meanwhile, Shell Energy has said it aims to start moving Post Office telecoms customers over to it as soon as the deal has completed, and suggested that the subscribers should expect ‘no interruptions to their service, no changes to contract pricing, and a world of new benefits’.