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TDC Group agrees to acquire MTG Nordics; MTG to hold 28% of TDC

2 Feb 2018

TDC Group has agreed to acquire MTG Nordics – comprising MTG Nordic Entertainment and MTG Studios – from broadcaster Modern Times Group (MTG) for an enterprise value of SEK19.55 billion (USD2.5 billion), to form what it claims will be the first fully convergent media and communications provider in Europe. Under the agreement, which is subject to customary approvals and satisfaction of certain conditions, MTG will receive 308.9 million TDC shares (equivalent to 28% of all TDC Group shares) and SEK3.3 billion in cash. Closing of the transaction is expected in the second half of 2018.

When combined, the two companies will have close to three million TV subscribers across Sweden, Denmark, Norway and Finland, with a potential reach of more than ten million households in the Nordic region.

TDC Group CEO Pernille Erenbjerg, who will remain Group CEO for the enlarged company, said: ‘I am very pleased to announce the combination of TDC Group and MTG Nordics – two highly complementary businesses. The combination will significantly strengthen our innovation capabilities enabling us to provide Nordic consumers with great quality content and much more flexible next generation entertainment solutions. This company will be the first of its kind in Europe.’

Denmark, Finland, Norway, Sweden, TDC (incl. Nuuday, TDC Net)

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