Report: TDC plans flotation, possible sale of Sunrise, Invitel

21 Jul 2009

British broadsheet The Sunday Times writes that a consortium of private equity funds is in talks with bankers about a possible stock market floatation of Denmark’s incumbent telco TDC next year. The report adds that TDC is considering selling off its non-core businesses – Swiss division Sunrise and a majority stake in Invitel Holdings, the successor to Hungarian Telephone and Cable Corp (HTCC), but stressed that no formal decision had been taken on the sales or float.According to TeleGeography’s GlobalComms database, TDC was acquired in December 2005 by Nordic Telephone Company (NTC) – a private equity consortium including Apax, Blackstone, Kohlberg Kravis Roberts, Permira and Providence Equity Partners – in a EUR13 billion leveraged buy-out deal.