NTC finally acquires TDC stake

The Nordic Telephone Company (NTC) consortium, which comprises Apax Partners, the Blackstone Group, Kohlberg Kravis Roberts, Permira Advisors and Providence Equity Partners, has finally received valid acceptances from TDC shareholders to acquire an 85.5% stake in the telco. The consortium’s offer of USD12 billion (DKK74 billion) was rejected by one TDC shareholder, ATP, earlier this week as being too low, but TDC was keen to see a purchase go ahead and pushed shareholders to change their mind. The offer period has been extended from 11 January to 20 January. NTC said it is confident that it will be able to acquire 100% of the company in the future.