TDC urges ATP to accept bid

Danish telco TDC is continuing to push its shareholders to accept a USD12 billion (DKK74 billion) tender offer from a consortium of private equity investors, Nordic Telephone Company (NTC). Major shareholder ATP, which holds 5.5% of the telco, yesterday rejected the offer saying it was too low. The consortium interested in the telco comprises Apax Partners, Kohlberg Kravis Roberts, Permira Advisers, Blackstone Group and Providence Equity Partners.