COPENHAGEN, Denmark, Oct. 1, 2001 (PRIMEZONE) -- TDC's (NYSE:TLD) wholly owned German mobile, landline and Internet company Talkline is planning to restructure.
As mentioned in our quarterly reports in 2001, Talkline's performance has not been satisfactory, which has led TDC to investigate Talkline's strategic options including a full or partial divestiture of activities. The finding from this process has resulted in the decision to restructure and plan for a closure of the landline and Internet activities. Mobile and Infodienst will continue as operating activities and be sold when appropriate.
TDC has examined the disposal opportunities for the loss-making activities, landline and Internet, but due to a lack of interest, TDC has decided to plan for a closure process.
After the restructuring, Talkline will be a strong, focused and profitable mobile business with 1.8m mobile customers.
The closure of the landline and Internet activities will be carried through in a way that TDC fulfils its obligations toward customers, resellers and employees. The Talkline restructuring is expected to impact positively on TDC's financial performance in 2002.
TDC will host a conference call with CEO Henning Dyremose and Senior Executive Vice President Henning Vest at 14.00 CET today. To participate please call + 353 1 240 5434 about 10 minutes before 14.00.
TDC, formerly Tele Danmark, is a Danish-based European full service provider of communication solutions, organized as seven main business units; TDC Tele Danmark, TDC Mobile International, TDC Internet, TDC Switzerland, TDC Cable TV, TDC Services and TDC Directories A/S. TDC is the leading provider of communications services in Denmark, the second-largest communications provider in Switzerland and holds significant interests in a range of communications companies across Northern and Continental Europe. TDC was privatized in 1994. Today, SBC Communications owns a 41.6% stake in TDC and the remaining shares are held by individual and institutional shareowners all over the world.
TDC Listings Shares: Copenhagen Stock Exchange. Reuters TDC.CO. Bloomberg TDC DC. Nominal value DKK 5. ISIN DK00-10253335. SEDOL 5698790.
ADSs: New York Stock Exchange. One ADS represents half of one common share. Reuters TLD.N. Bloomberg TLD US. SEC 1-12998. Half of one common share. CUSIP 87236N102. SEDOL 2883094.