Three banks have been appointed to work with the private equity owners of Danish incumbent TDC on its strategic review that could lead to an IPO, three sources have told TelecomFinance.
SEB Enskilda, JPMorgan and Morgan Stanley are global coordinators,…
Three banks have been appointed to work with the private equity owners of Danish incumbent TDC on its strategic review that could lead to an IPO, three sources have told TelecomFinance.
SEB Enskilda, JPMorgan and Morgan Stanley are global coordinators, and it is possible that a second two banks could be named as underwriters.
Goldman Sachs, UBS, JPMorgan, Morgan Stanley, Credit Suisse and BoA Merrill Lynch had been thought to be pitching for the mandate.
TDC is 88% owned by private equity groups KKR, Blackstone, Apax, Permira and Providence, which paid US$15.3bn for the group in 2005.
The most likely outcome is an IPO, which at least one person familiar with the process believes could realistically take place in Q4. A sale, though, could also be on the cards.
