TDC receives bid in a deal which could become Denmark's biggest ever  

2005.12.01
Five international capital funds have made a DKK 76 bn offer to acquire Denmark's largest communication provider TDC

Five international capital funds have made a DKK 76 bn (USD 12.16 bn) offer to acquire Denmark's largest communication provider TDC. 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. TDC's board of directors has recommended that shareholders accept the offer. If the deal goes through, it will be the largest corporate acquisition in Denmark's history.

The five capital funds have established Nordic Telephone Company (NTC), which has made the bid. In a press release NTC comments: "TDC is an outstanding company with a strong market position and a well qualified management. We think that this offer, which will be the largest private equity transaction ever in the Nordic region, is very attractive to the shareholders in TDC, and we look forward to collaborate with the management to continue the development towards a successful future for the company, the staff and the customers". The news was reported by financial daily newspaper Børsen.

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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