TDC to sell its clearing company Dannet A/S to foreign buyer  

2003.12.16
Denmark's largest telecompany close to selling its subsidiary, with US company Verisign among the potential buyers

Denmark's largest telecompany TDC is close to selling its subsidiary, clearing company Dannet A/S, to a foreign buyer for an expected price of around DKK 1.5 billion (USD 240 million). A sales prospectus was sent to a handful of potential buyers a couple of months ago and TDC has now made its negotiation shortlist. One of them is Nasdaq-listed Verisign which runs the same type of services as Dannet.

 

Dannet's primary activity is to ensure payment to international mobile phone operators when other mobile phone operators use their mobile net, referred to as roaming. Dannet has a leading position in Europe and TDC is very satisfied with its performance. Last year Dannet generated a turnover of DKK 315 million (USD 50 million) and pre-tax profits of DKK 88 million (USD 14 million). The news is reported by national daily newspaper Jyllands-Posten.

 

Link > Dannet

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