SBC Communications to sell 32% of its shares in TDC  

2004.06.10
The US based telecompany is to sell 32% of its 42% shareholding in Denmark's largest telecompany TDC

US based SBC Communications is to sell 32% of its 42% shareholding in Denmark's largest telecompany TDC. Rumours of such a move by SBC Communications have been doing the rounds on Wall Street and the Copenhagen Stock Exchange for some years.

 

TDC plans to acquire 8.4% of the 32% which will take its total share ownership to 10%.The remaining shares are planned to be sold to international institutional investors. TDC's current stock market value totals DKK 45 billion (USD 7.2 billion).

 

Sweden's and Finland's teleconcern Telia-Sonera has often been mentioned by industry observers as a possible company to acquire TDC, but Telia-Sonera yesterday said that it has no interest in acquiring the 32% shares coming up for sale. Its current primary objective is to increase the number of mobile phone customers. The news is reported by national broadsheet Berlingske Tidende and financial newspaper Børsen online.

 

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