Consortium preparing TDC share sale, report says

12 Nov 2009

Nordic Telephone Company (NTC), a consortium of private equity groups Apax Partners, the Blackstone Group, Kohlberg Kravis Roberts, Permira Advisers and Providence Equity Partners, is preparing to sell part of their stake in Danish telco TDC, Bloomerberg reports, citing five people familiar with the plans. According to the unnamed sources, the firms will interview banks before the end of this month to arrange the stock sale next year, adding that that the consortium may sell part of its 88% stake, valued at about USD7.4 billion, while TDC may also offer new stock to raise cash. According to TeleGeography’s GlobalComms Database, TDC was acquired by NTC in December 2005 in a EUR13 billion (USD19.5 billion) leveraged buy-out deal. The consortium holds a 87.9% stake in the company, while Danish pension fund ATP holds 5%. The remainder is held by private investors and TDC employees.

Denmark