The UK Post Office has signed a deal to sell its telecoms business to Shell Energy Retail for an undisclosed sum. The sale will allow the Post Office to focus on its core mail, banking, bill payments and travel operations, with customers automatically migrated to Shell on 15 March with no disruption to service.
The deal is expected to complete in six weeks following a period of further due diligence. The Post Office will stop selling telecoms products online and in Post Offices immediately, and all postmasters who benefited from signing-up telecoms customers will receive a payment. The Post Office telecoms business supplies broadband and home phone services to around 500,000 customers, using TalkTalk's LLU network. Customers will continue using their existing equipment, and can continue paying their bills in Post Offices.
