TDC has rejected a bid from a group of financial companies who want to take control of the Denmark-based operator.

The company said PFA Pension and Forsikringsselskab, PKA, ATP and Macquarie Infrastructure & Real Assets Europe had made “an indicative proposal” but that TDC’s board had declined the offer.

Precise details of the bid were not disclosed but the operator said it would “always remain open” to deals that could deliver “superior value” to shareholders.

“Having reviewed the terms of the proposal, TDC Group’s Board of Directors concluded that it is not in the best interest of TDC’s shareholders and stakeholders and it has been rejected,” the company said in a statement.

“We are confident in the stand-alone prospects of TDC and convinced of the incremental value creation potential of the announced combination with MTG’s Nordic Entertainment & Studio division.”

The tie-up with MTG, which owns production, broadcasting, streaming and distribution operations in Sweden, Denmark, Norway and Finland, was announced last week.

The two companies said the deal, should it get the green light from regulators, would create the first truly combined media and communications provider in Europe.

The offer from the financial consortium comes after TDC reported another year of declining sales and profits.

Revenues fell from DKK21 billion in 2016 to DKK20.3 billion last year, while EBITDA fell from DKK8.49 billion to DKK8.24 billion.

TDC cited intense competition in the enterprise market alongside a fall in TV and fixed telephony customers for the decline.

More News

Iliad enters content game in France, finally launches Italian mobile business Iliad enters content game in France, finally launches Italian mobile business Iliad has acquired football rights in France and launched its opco in Italy as it looks to reboot after a disappointing set of financial results. More detail
Three UK appoints new CCO, CFO Three UK appoints new CCO, CFO The departure of Three UK's Chief Commercial Officer after just 18 months in the job has triggered a shake-up of the mobile operator's top team. More detail
TalkTalk to sell enterprise customer base to Daisy as it registers full-year loss TalkTalk to sell enterprise customer base to Daisy as it registers full-year loss TalkTalk has agreed to sell 80,000 business customers to rival Daisy Group in a £175 million deal. More detail
A1 Telekom Austria Group rebrand reaches Bulgaria A1 Telekom Austria Group rebrand reaches Bulgaria Bulgaria is the third A1 Telekom Austria Group opco to get rebranded as the telco looks to market itself as a provider of "advanced" IT, IoT, cloud and content services. More detail
Orange Business Services puts IoT to use on saving ships’ fuel costs Orange Business Services puts IoT to use on saving ships’ fuel costs Orange Business Services has expanded its work with Dobroflot by developing a customised IoT solution for the Russian fishing company. More detail
    

 

European Communications is now
Mobile Europe and European Communications

  

From June 2018, European Communications magazine 
has merged with its sister title Mobile Europe, into 
Mobile Europe and European Communications.

No more new content is being published on this site - 

for the latest news and features, please go to:
www.mobileeurope.co.uk 

 

@eurocomms