Ares demands BT payment as TalkTalk teeters on brink of administration

TalkTalk is nearing a possible administration as soon as Monday, with Ares Management demanding a multimillion-pound payment from BT Group in return for backing a potential pre-pack takeover, while Alvarez & Marsal has been lined up to handle the insolvency and creditors face losses running into the hundreds of millions of pounds.

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