Danish telco TDC is preparing to invest SFr1bn (E740m) from its cashflow in Swiss affiliate Sunrise over the next five years.
Publishing first half results ended 30th June, TDC CEO Henrik Poulsen said: “We expect to invest SFr1bn in our Swiss…
Danish telco TDC is preparing to invest SFr1bn (E740m) from its cashflow in Swiss affiliate Sunrise over the next five years.
Publishing first half results ended 30th June, TDC CEO Henrik Poulsen said: “We expect to invest SFr1bn in our Swiss infrastructure and distribution network over the next five years, further reinforcing our position as the leading, integrated challenger in the Swiss telecoms market.”
The announcement follows derailed plans to merge Sunrise with Orange Switzerland, France Telecom’s Swiss unit. It is understood that TDC is keen to bolster its Swiss network and infrastructure to secure a competitive standing in the country.
TDC said EBITDA increased 6.4% to DKr6,695m (E898m) in the first half, compared to DKr6,293m (E844m) for the same period last year.
It is also understood that TDC is currently the subject of a strategic review that is likely to result in an IPO.
Goldman Sachs, UBS, JPMorgan, Morgan Stanley, Credit Suisse and BoA Merrill Lynch are all thought to be pitching to TDC’s private equity owners for the mandate.
