TDC tipped to offload enlarged HTCC, once Invitel merger completed

19 Apr 2007

TDC Denmark is being tipped to sell off its roughly 63% stake in Hungarian Telephone and Cable Corp (HTCC), following the completion of the Hungarian firm’s merger with rival operator Invitel, according to a report in the Financial Times citing ‘industry sources’. In January 2007 HTCC agreed to pay Mid Europa Partners and GMT Communications Partners USD611 million for Invitel including debt. Unnamed industry sources say the transaction is a pre-cursor to a sale of the combined unit given TDC’s commitment to divest non-core assets.

Hungary, Invitel (a subsidiary of DIGI)