Ares Faces ~50% Recovery After BT Buys TalkTalk
BT acquired TalkTalk's wholesale and consumer businesses, wiping out bondholders. Ares, a creditor, recovered about 50% of its investment, receiving £100 million. Ares' exposure grew to £1 billion due to interest and repayments. BT's acquisition highlights the challenges in UK telecoms, including high leverage and repayment priority.



