TDC Group to be split into three units

The DK Telekommunikation consortium, which is planning to acquire TDC Group, will split the Danish telecoms company into three separately managed businesses, according to an offer document published earlier this week. The three units will focus on TDC’s networks, the Danish market and the Norwegian business and will eventually be managed independently. As previously reported by TeleGeography’s CommsUpdate, in February 2018 DK Telekommunikation – acting on behalf of Macquarie Infrastructure and Real Assets Europe (MIRA) and three Danish pension funds, namely PFA, ATP and PKA – submitted a voluntary recommended public takeover offer to buy the entire share capital of TDC for an all-cash consideration of DKK50.25 (USD8.3) per share. TDC’s board has said that this new offer represents improved terms compared to previous non-binding proposals made by the consortium to TDC, while providing a high degree of transaction certainty and not being conditional on due diligence.