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Denmark’s TDC plans stock listing
12 January 2010
The owners of TDC, the Danish incumbent operator, are talking to investment banks about listing the company on the stock market
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[TDC]
[Denmark]
[Nordic Telephone Company]
[Goldman Sachs]
[UBS]
[Morgan Stanley]
[Deutsche Bank]
[Credit Suisse]
[JP Morgan ]
Comment: TDC has been owned by private equity investors since 2006, when a group of companies bought it for €9 billion, so four years would be the sort of period after which they might want to get some of their money back — though it is likely to be a long way short of €9 billion.
TDC, which is owned by private-equity owned Nordic Telephone Company, is looking to list the company on the stock market.
The company is in talks with Goldman Sachs, UBS, Morgan Stanley, Deutsche Bank, Credit Suisse and JP Morgan to advise it on its plans.
Nordic Telephone, which is controlled by private equity firms Apax, Blackstone, KKR, Permira and Providence Equity Partners, may cut down the number of advisers once a decision has been taken on a listing. If TDC is listed, the IPO will be expected in the next few weeks.
TDC is planning to combine its Swiss unit, Sunrise, with a unit of France Telecom. The agreement would follow the same move in the UK, where France Telecom and Deutsche Telekom are to merge their operations. GTB