Danish incumbent TDC has announced that NTC, its controlling shareholder, plans to sell secondary shares in the telco to Danish and international institutional investors.
The company did not disclose the size of the stake it plans to sell, but some…
Danish incumbent TDC has announced that NTC, its controlling shareholder, plans to sell secondary shares in the telco to Danish and international institutional investors.
The company did not disclose the size of the stake it plans to sell, but some reports suggest it could be approximately US$2.9bn worth of stock.
NTC, a consortium of PE investment firms Apax Partners, Blackstone Group, Kohlberg Kravis Roberts, Permira Advisers and Providence Equity Partners, currently owns around 88% of TDC, and plans to remain a significant investor after the offering.
TDC said JP Morgan, Morgan Stanley and Skandinaviska Enskilda Banken are acting as joint global coordinators and joint bookrunners for the proposed sales, as reported previously by TelecomFinance. Deutsche Bank and UBS are acting as joint bookrunners.
Credit Suisse Securities, Goldman Sachs, Nomura, HSBC and Danske Markets are
acting as joint lead managers, with Danske Markets and Skandinaviska Enskilda
Banken also acting as Nordic retail bookrunners. BNP Paribas and
Carnegie Bank are acting as co-lead managers, the company added.
TDC declined to comment further, and NTC was unable to comment before the press deadline.
