TDC is close to getting new owners
2006-01-12 13:17
TDC is close to getting new owners. This morning, Nordic Telephone Company (NTC) announced that the company had received tenders representing approx. 85.5 percent of TDC’s share capital. At the same time, NTC extended the offer period to Friday, January 20 (06.01 am Central European Time) and reduced the minimum condition so that NTC will go through with the acquisition with an ownership share of 85 percent of TDC’s share capital.
The reduction of the minimum condition and the extension of the offer period do not give rise to TDC A/S changing or revising the Board of Directors’ statement to the shareholders concerning the received public tender (stock exchange release no. 25/2005 of December 2, 2005). The Board of Directors’ recommendation to the shareholders of TDC A/S to accept Nordic Telephone Company ApS’s public tender offer is thus maintained.
“On behalf of the Board of Directors I would like to say that it is highly satisfactory to see the pronounced backing for the Board of Directors’ recommendation to sell the shares to NTC as expressed by the acceptance from 85.5 percent of the shareholders. Even though the sale has not been finalized yet, we must expect TDC to change owners shortly. In that case I welcome NTC as the new controlling shareholder,” says Thorleif Krarup, Chairman of TDC’s Board of Directors.
“The Board of Directors has noted that so far ATP has not accepted the offer from NTC, but that ATP at the same time has expressed full confidence in and backing for TDC’s Board of Directors and Executive Committee and has expressed recognition of the efforts which TDC’s management has displayed in its treatment of the offer. Further, ATP has found that it is a natural thing for the Board of Directors to recommend acceptance of the tender offer,” adds Thorleif Krarup.
On behalf of NTC, Kurt Björklund said in an announcement this morning:
“Shareholders have reacted very positively toward NTC’s tender offer and we are extremely pleased with the result of the tender offer so far. NTC remains confident it will be able to acquire 100 percent of TDC and encourages all shareholders and holders of TDC ADSs to tender. We are looking forward to working with the management of TDC and building further on the strategies announced by TDC’s management for the benefit of the company, its employees and customers”.
As described in the offer document, NTC expects to continue the strategy publicly announced by TDC with respect to TDC’s integrated Nordic mobile, fixed line, cable and broadband delivery; capitalizing on the growth in mobile and broadband markets; its plans for personnel , including employment terms; and the continued development of its Swiss operations.
“In the Executive Committee we take note of Kurt Björklund’s statements this morning and NTC’s previously declared intentions of continuing TDC’s announced strategy in all key areas. We are pleased to the see the will to cooperate for the benefit of customers, employees and the societies in which we operate. This willingness to cooperate is shared by TDC’s day-to-day management, and - if the sale goes through - we look forward to constructive everyday cooperation with NTC as new owners,” says, Henning Dyremose, President and CEO of TDC.
For further information, please contact:
TDC’s Press Secretariat on tel. +45 70 20 35 10
tdc.com
