Post Office sells broadband and home phone business

The telecommunications business supplies around 500,000 customers with home phone and broadband services and has been operated by the Post Office since 2007.

Post Office said the deal will enable it to “focus and invest” in its core products and services.

Nick Read, chief executive at the Post Office, said: “This is a good deal for Post Office Limited, our postmasters and our customers. It allows us to concentrate and invest in our core products while ensuring payments to postmasters and continuity of service to customers.”

Customers can also continue to pay their bills in post offices if they currently do so and postmasters, who would have previously benefited from signing-up customers to Post Office’s telecoms business, will receive a “significant” one-off payment.