COPENHAGEN, Denmark, Feb. 20, 2003 (PRIMEZONE) -- TDC A/S (NYSE:TLD) has been notified by the remaining minority shareowners in TDC Switzerland, that each of them wishes to sell their shares to TDC by exercising their put options.
After having acquired these shares, TDC Group will be 100% owner of TDC Switzerland. The total consideration paid for the 21.3% minority shares, held by the minority shareowners at the beginning of 2002, amounts to CHF 1.627m (DKK 8.2bn).
The above mentioned put options were granted to minority shareowners as a part of the consideration in connection with TDC's acquisition of diAx and sunrise, announced in November 2000. The two companies were later merged, thereby creating TDC Switzerland.
This increase in ownership of TDC Switzerland was included in the preliminary Outlook for TDC for 2003 given with TDC's 3Q 2002 Earnings Release in November 2002.
TDC is a growth and value-creation oriented Danish-based provider of communications solutions with significant presence in selected markets in Northern and Central Europe. TDC is organized as six main business lines; TDC Solutions, TDC Mobile International, TDC Cable TV, TDC Directories, TDC Services and TDC Switzerland. TDC was privatized in 1994. Today, SBC Communications owns 41.6% of the shares, with the remainder held by individual and institutional shareowners all over the world.
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Shares: Copenhagen Stock Exchange Reuters TDC.CO Bloomberg TDC DC Nominal value DKK 5 ISIN DK0010 253335 Sedol 5698790 Shares: New York Stock Exchange Reuters TLD.N Bloomberg TLD US One ADS represent one half common share ISIN US8723 6N1028 Sedol 2883094