Capital fund makes bid to acquire Dangaard Telecom  

2006.05.29
A capital fund has made a bid to acquire Denmark's Dangaard Telecom, the world's second largest distributor of mobile phones, for an estimated price of around DKK 500 m

An unnamed capital fund has made a bid to acquire Dangaard Telecom, Europe's largest distributor of mobile phones and the world's second largest, reports financial daily newspaper Børsen. The price tag is estimated to be around DKK 500 m (USD 85 m).

One of the owners, Dangaard Telecom Partners has accepted the offer, while some minority shareholders think it is too low in relation to the company's earnings potential. In addition to Dangaard Telecom Partners, the owners comprise Fleggaard Holding, Debitel and the German-owned BHS Holding, which is located in Switzerland and has 40.81% of the shares.

Dangaard Telecom has expansive growth plans and aims to become the world's largest mobile phone distributor in 12 months. The firm has just opened an office in Moscow, and during the year other offices will be opened in Miami, New Delhi, Hong Kong and Nairobi. Dangaard Telecom has been operating on the Russian market for some years, where it is collaborating with Microsoft, HP, E-TEN, Gigabyte and HTC. The news was reported widely in the Danish press.

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