TDC's largest shareholder to sell 10% stake

Danish telco TDC revealed yesterday that its largest shareholder, a group of private equity funds known as NTC Holding, is to sell a 10% stake in the company to institutional investors. The sale could be worth DKK3.1 billion (USD539 million) based on the company’s current share price. NTC is a consortium of five investment firms: Apax Partners, the Blackstone Group LP, Kohlberg Kravis Roberts, Permira Advisers and Providence Equity Partners.