April 5, 2018 / 11:41 AM / 3 months ago

TDC investors back $6.6 billion takeover bid from Macquarie-led consortium

COPENHAGEN (Reuters) - Danish telecoms company TDC TDC.CO said it had secured enough backing from shareholders to accept a $6.6 billion cash offer from Australia’s Macquarie (MQG.AX) and three Danish pension funds.

Around 88 percent of shareholders had accepted the offer from Macquarie Infrastructure and Real Assets (MIRA) and Danish pension funds PFA, ATP and PKA of 50.25 Danish crowns per share made in February. The offer values TDC at around 40 billion crowns ($6.6 billion).

“All conditions are satisfied and the offer is concluded and will be completed,” the bidding consortium said in a statement.

The consortium had said it would make “material investments” into the network infrastructure and will split the company into three separately managed businesses focusing on TDC’s networks, the Danish market and the Norwegian business.

TDC has more than three million mobile customers in Denmark and Norway.

Reporting by Jacob Gronholt-Pedersen; Editing by Susan Fenton

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