TDC Increases Its Stake in HTCC to 62.9%
30 3월 2005 - 7:01PM
PR Newswire (US)
TDC Increases Its Stake in HTCC to 62.9% COPENHAGEN, Denmark, March
30 /PRNewswire-FirstCall/ -- TDC has entered an agreement to
increase its ownership in the Hungarian landline and data
communications provider HTCC by acquiring shares etc. from Ashmore
Investment Services. The transaction involves the acquisition by
TDC of Ashmore's 2,750,936 ordinary shares, 12,000 preference
shares and 2,500,000 warrants for a total amount of USD 80m
(approximately DKK 456m). Furthermore, TDC acquires USD 25m of
Notes in HTCC from Ashmore at par i.e. USD 25m (approximately DKK
143m) The transaction, which is not conditional on competition
authority approval or similar, is expected to close on April 12,
2005, and will increase TDC's ownership of ordinary shares from
41.6% to 62.9%, and hence gives TDC control of the company. TDC's
share in HTCC on a fully diluted basis will be 65.9%(1). The
remaining part of HTCC's outstanding common stock is traded on the
American Stock Exchange. TDC may exercise its warrants against
payment of USD 25m to HTCC. The payment in connection with such an
exercise may be made by delivery of the acquired Notes in HTCC.
HTCC operates approximately 190,000 lines and serves approximately
670,000 customers. HTCC changed its market position significantly
in February 2005 when HTCC acquired Pantel, another Hungarian
alternative landline and data communications provider. Pantel's
fiber optic data network is nationwide in Hungary and in addition
has direct access to Rumania, Bulgaria, Croatia, Slovenia, Austria,
Slovakia, Ukraine and Serbia. For more information on HTCC and
Pantel please refer to http://www.htcc.hu/ and
http://www.pantel.hu/. HTCC will be consolidated in TDC's accounts.
The estimated impact in 2005 on net revenues will be approximately
DKK 1.0bn and EBITDA will increase by approximately DKK 0.3bn. For
further information please contact TDC Investor Relations at +45
3343 7680. (1) After exercise of all warrants and options and
conversion of preference shares. TDC A/S Noerregade 21 0900
Copenhagen C DK-Denmark http://www.tdc.com/ DATASOURCE: TDC A/S
CONTACT: TDC Investor Relations, +45-3343-7680 Web site:
http://www.tdc.com/
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