Shell’s £80 Million Deal to Buy The Post Office’s Broadband Operations
Thursday, 4th February 2021
Shell is known as one of the giants in the oil and gas industry, but it seems the company is also making moves in the broadband sector too.
Despite TalkTalk and Sky also expressing their interest in purchasing the Post Office’s broadband operations, Shell is currently in the lead position for winning this acquisition.
After nearly 2 months of negotiations, the deal between Shell and the Post Office could be closed as early as next week – costing as much as £80 million!
Shell already has 870,000 domestic energy accounts and around 130,000 broadband customers, and if the deal with the Post Office is finalised, they will add around 500,000 new customers to their business.
On the Post Office’s website, it states: “This transition allows Post Office to focus on its core business of letters and parcels, everyday banking services, bill payments and travel money, whilst ensuring you continue to receive high-quality broadband and phone services from Shell Energy.”
“Shell Energy already provides home energy and broadband services to over a million customers in Britain.”
This deal comes after Shell purchased the retail energy and broadband supplier First Utility in 2018, rebranding the business Shell Energy Retail. And last week, Shell also bought the UK’s biggest electric vehicle charging network, Ubitricity.
All of this forms part of a strategic plan to move away from the oil and gas industry, due to the UK’s plan to ban the sale of new fossil fuel vehicles by 2030.
How will this affect Post Office broadband customers?
If you’re currently with the Post Office, don’t worry, you’re not about to get cut off from the internet!
The Post Office has assured all customers that ‘there will be no immediate change to your package, prices or service’ and Shell ‘looks forward to welcoming you on board and will be in touch shortly to introduce themselves.’
Customers can continue enjoying internet services without interruption and paying for your broadband bill will remain the same for the time being. All future changes will be explained to you by Shell in advance.