TDC moves for Song

Danish incumbent TDC has made a formal DKK3.3 billion (USD544 million) bid for pan-Nordic telco Song Networks. The board of the targeted company has declared its unanimous support for the offer and recommended that its shareholders follow suit. TDC says that the acquisition of Song’s networks in Denmark, Sweden, Norway and Finland will allow it to strengthen its presence in the Nordic region and Denmark’s business market in particular; Song has around 14,300 corporate customers across its businesses.