Ares Faces 50% Loss on Money It Piled Into TalkTalk With BT Deal

Future Of British Business Ares Faces 50% Loss on Money It Piled Into TalkTalk With BT Deal Ares Management Corp is set to lose about half of the hundreds of millions of pounds it invested in TalkTalk, after BT Group Plc agreed to buy the telecommunications firm out of insolvency. The US asset manager received compensation of around £100 million ($133 million) in exchange for giving up its security over the company and consenting to BT’s purchase, according to people familiar with the matter, who spoke on condition of anonymity. Combined with interest and other repayments received over the years, that means Ares is set to recover around 50% of the cash it invested in the business, one of the people said.