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TDC gives the nod to $12bn take-over

Another telecoms saga

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Execs at TDC have agreed to flog the Danish telco to a group of investment companies ending weeks of speculation about the future of business.

Widely trailed already, an outfit called Nordic Telephone Company (backed by investors Apax Partners, The Blackstone Group, Kohlberg Kravis Roberts & Co, Permira and Providence Equity Partners) has offered $12bn (£7bn) for the business.

Although it's possible that a rival bid could be made industry watchers are already suggesting that looks unlikely.

TDC is active in central and northern Europe with operations in Sweden, Austria and the Middle East, among others. In the UK, it is behind no-frills discount cellco easyMobile which has recently expanded its operation into The Netherlands and Germany.

A year ago TDC - previously Tele Danmark - announced it was buying Swedish IP and business telecoms outfit Song for $552m. Song provides businesses with IP and data services, and operates in Denmark, Finland, Norway and Sweden. ®

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