The private equity firm Kohlberg Kravis Roberts (KKR) has completed the sale of its 10.89% stake in Danish telco TDC, raising USD744 million from the sale of 90 million shares at DKK46.3 (USD8.4) per share. The transaction was managed by JP Morgan. KKR acquired its interest in TDC in 2006 as part of the Nordic Telephone Company Holding (NTCH) consortium, which also included private equity groups Apax Partners, the Blackstone Group, Permira Advisers and Providence Equity Partners. Between December 2010 and April 2013 NTCH took steps to gradually reduce its stake in the Danish telco. That month NTCH disposed of the remainder of its TDC shares by selling the stake to KKR, which upped its shareholding in TDC to 10.89% in the process.