TDC acquires local competitor Fullrate

16 Mar 2009

Danish telecoms operator TDC has agreed to acquire local competitor Fullrate for an undisclosed amount. The transaction is aimed at strengthening the telco’s position in the domestic low cost broadband market, but is not expected to impact its financial outlook for 2009. TDC’s managing director and CEO, Henrik Poulsen, said: ‘We are excited about Fullrate’s business concept, which is extremely customer focused and very simple. That is why we are very pleased that we have an agreement in place. Fullrate will be a new strong brand in the TDC group and I have high expectations for the company.’

Fullrate provides nationwide fixed line voice and broadband services, and launched mobile broadband services in February 2009. It posted 2008 net revenue of DKK181 million (USD31.39 million) and EBITDA of DKK35.7 million, and had a combined residential and business subscriber base of 76,000 at the end of 2008. The company will retain its management and be integrated as a separate unit of the TDC group.

Denmark