EC approves DK Telekommunikation’s acquisition of TDC

DK Telekommunikation – acting on behalf of Macquarie Infrastructure and Real Assets Europe (MIRA) and three Danish pension funds, namely PFA, ATP and PKA – has revealed that the EC has approved its acquisition of Danish telecoms operator TDC Group, with all required regulatory approvals now secured. In February 2018 DK Telekommunikation 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, while providing a high degree of transaction certainty and not being conditional on due diligence. The offer remains conditional on two-thirds of TDC shareholders accepting it.