Danish TDC gets new takeover approach, could ditch MTG deal

TDC Group Withdraws MTG Offer

TDC calling off MTG acquisition bid

TDC has pulled out of a merger with mediaco MTG after being approached by another bidder, leading to frenzied speculation about its future ownership.

The move comes after the Danish firm itself received a takeover bid last week from Australia's Macquarie Infrastructure and pension firm PFA, ATP and PKA.

In a statement from the Stockholm-based company on Monday, MTG said TDC's board of directors meant to withdraw its recommendation to combine its Nordic Entertainment and MTG Studios businesses. TDC's board said at the time that it was "convinced" of the merits of the deal with MTG.

In an article on its news website, Danish public broadcaster DR cites a Sydbank analyst as speculating that the potential bidder mentioned is probably a new one, otherwise TDC would have worded its new statement differently.

Only last week it rejected a takeover approach from the same group which valued it at a reported 47-48 crowns per share.

Telenor is the other major operator group present in Denmark but it had not commented at the time of writing.

The prospect of a bidding war for TDC receded when Telia said earlier on Monday it was not in talks with its Danish peer.

"Telia Company confirms that as part of the strategic review regarding our position in Denmark we have investigated our various alternatives which have included also a possible acquisition of TDC", it said in a statement.

Two sources close to Telia said it decided against bidding for TDC after examining the antitrust challenges that a deal between the two companies would have posed.

Latest News