TDC shares drop after ATP refuses to sell shares

9 Jan 2006

Shares in Denmark’s dominant telecoms operator TDC fell by 5% today after its largest shareholder, local pension fund ATP, refused to sell its shares to Nordic Telephone Company (NTC), which offered DKK382 per share. TDC, however, is confident that the tender offer can be completed by the expiration of the offer period on 12 January.