Five international capital funds bid to acquire TDC  

2005.11.18
Five international capital funds have jointly made an offer to acquire Denmark's largest communication provider TDC

Five international capital funds have jointly made an offer to acquire Denmark's largest communication provider TDC, reports Reuters. The consortium comprises the European fund Permira Advisors, Great Britain's Apax Partners and US capital funds Blackstone Group, Kohlberg Kravis Roberts & Co and Providence Equity Partners.

Reuters says the consortium has offered DKK 380 (USD 60.8) per share, corresponding to a price of DKK 73 bn (USD 11.7 bn). The five capital funds have been mentioned as potential buyers of TDC in the Danish and international press in recent months. By the end of October, the consortium established five companies in Denmark under a shared name, Nordic Telephone Company, which reportedly was set up to implement a TDC acquisition. If the deal goes through, it will be the largest corporate acquisition in Denmark's history.

The TDC Group develops and operates communication solutions, and has activities in 12 European countries and Oman in the Middle East. The TDC Group is one of the largest communication operators in Scandinavia with a staff of 22,000 people. The company has more than 13 million customers in Europe.

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