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Denmark: Macquarie takes bold $6.6bn dive into Danish telecoms

 |  February 12, 2018

Denmark’s TDC A/S agreed to be bought for about 40.8 billion kroner (US$6.7 billion) by a group led by Danish pension funds, ending a week of wrangling over the future of the Nordic phone carrier, reported The Financial Times.

The offer, which has been recommended by TDC’s board after it rejected the first proposal, values the company at 40 billion Danish kroner (US$6.6 nillion).  It came after a day of drama in which Sweden’s Modern Times Group (MTG) announced that TDC’s takeover of most of its assets was being withdrawn. Telia, the Swedish telecoms operator, then confirmed it had looked at making an offer for TDC but was no longer in discussions.The deal had already been approved by MTG’s largest shareholder Kinnevik and was expected to be completed during the second half of 2018. The companies had announced that Pernille Erenbjerg, who is currently CEO of TDC Group, the largest telco in Denmark, would become CEO of the combined company with MTG Executive Vice President Anders Jensen becoming Deputy CEO.

Full Content: Financial Times

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