NTC Holding cuts TDC stake to 18%

NTC Holding, a parent company of TDC, has confirmed that it has sold a 15% stake in the Danish telco for DKK4.7 billion (USD851 million). The move leaves NTC – a consortium of private equity investors including Apax Partners, Blackstone Group, Kohlberg Kravis Roberts, Permira Advisoers and Providence Equity Partners – with an 18% stake in TDC. The consortium originally acquired an 89% shareholding in 2005, but has since reduced its stake several times over the years.