TDC may pull plug on MTG deal, faces takeover bid

Internet Service Providers | Copenhagen, Denmark

TDC will walk away from a SEK 19.55 billion (around $2.5 billion) acquisition of the broadcasting and entertainment units of Modern Times as a condition of the Danish telecom becoming the target of a $6.7 billion acquisition by Australia’s Macquarie and a trio of Danish pension funds. The development follows longstanding media speculation that TDC was also the object of takeover interest from the likes of Swedish peer Telia. Shares of TDC (CSE: TDC) dialed up more than 13% Monday.

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