TDC to put Hungarian telco up for sale

Competition

Danish telecommunications operator TDC has put Hungarian Telephone, Cable Corp. (HTCC) up for sale, Dow Jones reported, citing people familiar with the deal.

TDC, which through NTC is owned by a consortium of private equity companies, including Apax Partners, Blackstone Group LP, Kohlberg Kravis Roberts & Co, Permira and Providence Equity Partners, has appointed BNP Paribas to auction off the company, the sources said.

TDC said its 64.6%-owned unit HTCC had retained the Paris-based investment bank to review its strategic options.

Last year HTCC completed the purchase of Invitel and became the second biggest telecommunications provider in Hungary, but TDC earlier said that it might want to get rid of HTCC upon completion of the Invitel deal. (MTI – Econews)

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