Macquarie in discussions to acquire TalkTalk wholesale arm

Australian bank Macquarie was said to be closing in on a deal to acquire the wholesale arm of British broadband provider TalkTalk.

According to Sky News, Macquarie will potentially ink an exclusivity agreement as soon as this week that would see it pour £450.0m into PlatformX, TalkTalk's wholesale platform, in exchange for a 40% or more stake.

Proceeds of the sale will be used to lower net debt amid a wider break-up.

Reporting by Iain Gilbert at Sharecast.com