Fairness opinion

Dec 2010
Deal Value:
EUR 2,646 million
Fairness opinion

TDC is the leading Danish provider of communications solutions with market leadership across all segments in the domestic market. In the other Nordic countries, TDC is the main challenger in the Business market.On 25 November 2010 TDC announced an offer to acquire shares for an aggregate amount of DKK 9 billion simultaneously with a public offering by its majority shareholders NTC S.A. and NTC Holding G.P. & Cie S.C.A. of 210,000,000 shares plus a green shoe of up to 31,500,000 shares in TDC. The purchase price per share in the share buy-back offer was to be equal to the announced offer price in connection with the public offering which was to be determined through a bookbuilding process. On 8 December 2010 NTC and NTC Holding decided to fix the Offer Price and thus the Tender Price at DKK 51 per Share.