Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

TDC Shareholder NTC Holding Sells $430 Million Stake in Company

Don't Miss Out —
Follow us on:

March 27 (Bloomberg) -- TDC A/S private-equity shareholder NTC Holding offered to sell a 2.49 billion-kroner ($430 million) stake in Denmark’s biggest phone company.

NTC offered 56.3 million shares in TDC, representing a 6.8 percent stake, at 44.27 kroner apiece, according to the terms of sale obtained by Bloomberg News. Copenhagen-based TDC won’t get proceeds from the transaction. UBS AG was appointed to manage the sale, carried out through an accelerated bookbuild.

TDC’s private-equity owners have been paring holdings since December 2010 when they cut their stake to less than 60 percent from about 88 percent by selling shares to the public. In February 2012, they sold about 15 percent of the company, leaving then-bookrunner Morgan Stanley with almost half the stock. Last month, NTC sold 120 million shares at 39.50 kroner each after originally offering 80 million shares, a person close to the deal said at the time.

Five private-equity firms -- Apax Partners LLP, Blackstone Group LP, KKR & Co., Permira Advisers LLP and Providence Equity Partners Inc. -- formed NTC and bought TDC in 2005 for $15.3 billion.

TDC shares fell 2.2 percent to 44.42 kroner at 9:34 a.m. in Copenhagen trading.

To contact the reporter on this story: Manuel Baigorri in Madrid at mbaigorri@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.